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Capitec Bank ranked #1 in loyalty rewards across all industries in South Africa.
By Perx Team · Published July 2026
Through a behaviour-led in-app engagement strategy built on the Perx Loyalty Engagement Platform, Capitec Bank turned everyday banking into a game customers wanted to play, and the transaction data proves it.
In a seven-month gamified loyalty programme beginning May 2024, Capitec Bank, one of South Africa’s leading retail banks, partnered with Perx Technologies to drive 8.2 million transactions across 85 campaigns. The programme reached a 37% Monthly Active User rate among Capitec’s 14 million registered users and generated R1.3 billion (US $67.9M) in actual transaction value, enough to rank Capitec the #1 loyalty rewards program across all industries in South Africa, not just among banks.
8.2M
Transactions across 85 campaigns
37%
Monthly Active User rate
$67.9M
Actual transaction value (progress campaigns)
#1
Loyalty rewards ranking, South Africa
INDUSTRY
Retail Banking
Region
South Africa
Platform
Perx Loyalty Engagement Platform
BACKGROUND
A 14-million-customer bank redefining loyalty in a competitive market
Capitec Bank set out to redefine customer loyalty and engagement in a highly competitive South African market. With over 14 million registered users, the bank aimed to elevate customer interaction, increase transaction frequency, and solidify its position as the #1 loyalty rewards program in the country, not just among banks but across all industries.
In May 2024, Capitec Bank partnered with Perx Technologies to transform traditional banking into an immersive, rewarding experience, leveraging Perx’s gamified and rules-based engagement mechanics.
THE OBJECTIVE
Four goals defined the partnership
01
Increase customer engagement
Foster deeper and more frequent interactions with customers through personalised, gamified campaigns.
02
Drive transaction growth
Boost transaction volume and frequency by incentivising customer behaviour with meaningful rewards.
03
Enhance campaign effectiveness
Utilise advanced rules and progress mechanics to deliver impactful, results-driven campaigns.
04
Gamification and behavioural science
Incorporate gamification elements, such as progress bars, milestones, and rewards, to motivate customers to take desired actions, applying behavioural science principles to design campaigns that positively influence customer behaviour.
WHY PERX & THE SOLUTION
Behavioural science, built into everyday banking
Capitec Bank selected Perx Technologies for its ability to deliver measurable financial outcomes through advanced engagement strategies. The Perx Loyalty Engagement Platform integrates gamification, behavioural science, and analytics, creating opportunities for banks to incentivise and reward customer behaviour while driving business growth.
Gamified progress campaigns
Campaigns built around milestones and sustained actions encouraged ongoing customer participation, resulting in 3.2 million transactions and R63.2M (US $3.3M) in additional transaction value.
Stamp campaigns
A simple, familiar mechanic, stamp campaigns drove 720,000 additional transactions worth R14M (US $764K).
Instant outcome campaigns
Immediate rewards motivated customers to participate, driving R11M (US $605K) in new transactions.
Game-based campaigns
By tapping into customer interests, game-based campaigns generated R7M (US $359K) in additional transactions.
Performance Highlights
The proof of the pudding
- Capitec Bank reached a 37% Monthly Active User ratio, a strong engagement rate across a customer base of 14 million.
- Active campaign users completed 188 additional transactions on average over seven months.
- 8.2 million campaign-powered transactions were generated across 85 campaigns.
- A minimum additional transaction value of $860K was generated, averaging $12 per active user.
- Progress campaigns alone accounted for R1.3 billion (US $67.9M) in actual transaction value, at a 1.2x ROI within seven months.
- Capitec ranked the #1 loyalty rewards program across all industries in South Africa.
The figures below are measured outcomes from live customer transaction data over the seven-month programme, not modelled projections.
8.2M
Total campaign-powered transactions
Across 85 campaigns spanning gamified progress, stamp, instant outcome, and game-based mechanics, Capitec generated 8.2 million transactions tied directly to Perx-powered engagement. This was not a single blanket promotion. It was 85 distinct, rules-based campaigns running concurrently across a 14-million-customer base, each mapped to a specific behaviour Capitec wanted to encourage.
37%
Monthly Active User ratio
A 37% MAU ratio across 14 million registered users means Capitec was seeing several million customers actively engage with loyalty mechanics every month. For a bank of this scale, that ratio is the clearest sign that the shift from static points to dynamic, gamified journeys was working.
$67.9M
Actual transaction value from progress campaigns
Progress campaigns (milestone and action-based journeys) alone drove R1.3 billion (US $67.9M) in real transaction value. This is actual customer spend attributable to the mechanic, not a projected lift. It is the figure that connects a loyalty campaign to a line on the bank’s revenue report.
1.2x
Return on investment
Progress campaigns delivered a 1.2x ROI within seven months, meaning the transaction value generated already exceeded the cost of running the programme well inside its first year. For a loyalty leader defending budget upward, that is the number that turns the conversation from cost centre to growth engine.
#1
Loyalty rewards ranking in South Africa
The combined effect of engagement, transaction growth, and campaign effectiveness ranked Capitec the #1 loyalty rewards program across all industries in South Africa, ahead of programs outside banking altogether.
“By replacing a stagnating points model with gamified, behaviour-led journeys, Capitec Bank turned everyday banking transactions into an engagement layer customers actively returned to, at a scale and speed traditional IT-led rollouts could not match.”
WHAT THIS MEANS FOR YOUR BANK
Three things the Capitec results tell any bank considering a behaviour-led loyalty programme
01
Points fatigue is solved by mechanics, not bigger rewards
Capitec’s 8.2 million transactions came from four distinct campaign types (progress, stamp, instant outcome, and game-based), not from a single richer rewards catalogue. Banks that respond to points fatigue by raising reward values miss the underlying issue: customers disengage from monotony, not from insufficient rewards. Variety in mechanic design is what kept 37% of a 14-million customer base active every month.
02
Scale requires infrastructure that launches without an IT lift
Running 85 concurrent campaigns across 14 million customers is not achievable through campaign cycles that take weeks to build. It requires a behaviour-led engagement layer that marketing teams can deploy directly, without a queue behind IT. For banks evaluating loyalty infrastructure, the real question is whether the platform can launch and iterate at marketing speed.
03
MAU and ROI are the metrics that defend loyalty budget upward
A 1.2x ROI within seven months and a 37% MAU ratio are figures a CFO can act on directly. They give loyalty leaders a way to present engagement spend as a growth investment with a measurable return, rather than a cost centre that quietly renews each year.
Conclusion
Behaviour change that shows up in the ranking
Capitec Bank’s partnership with Perx Technologies transformed its customer engagement strategy, making everyday banking a rewarding experience. By leveraging Perx’s gamified and rules-based mechanics, Capitec drove 8.2 million transactions, reached a 37% Monthly Active User rate, and generated R1.3 billion (US $67.9M) in actual transaction value at a 1.2x ROI, securing its position as the #1 loyalty rewards program across all industries in South Africa.
The partnership shows how Perx’s behaviour-led engagement strategies deliver measurable financial outcomes, helping Capitec Bank move beyond a stagnating points model into a growth engine built on customer behaviour.
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FAQs
Common questions.
How does the Perx Loyalty Engagement Platform work?
Perx combines a real-time rules engine, gamification, and behavioural science to turn routine interactions into rewarding moments. It reads individual customer behaviour and delivers personalised rewards at the right moment to nudge positive financial actions.
Which businesses is Perx built for?
Perx is built for APAC BFSI enterprises — banks and financial institutions that want to move customers from passive accounts to active, profitable relationships through behaviour-led loyalty.
How is loyalty performance measured?
Performance is tracked through a loyalty breakdown report and a user point balance report, which monitor earned, burned, and expired points per customer — alongside transaction frequency and volume.
What support does Perx provide during a deployment?
Every Perx engagement starts with a defined behavioural target and a measurable outcome. Teams get hands-on support across rules design, campaign configuration, and ongoing optimisation tied to that outcome.
An ISO/IEC27001:2013 and ISO 27018:2019 certified cloud solution
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An ISO/IEC27001:2013 and ISO 27018:2019 compliant cloud solution
An ISO/IEC27001:2013 and ISO 27018:2019 certified cloud solution