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Monday, 19 March 2001
Standard Bank and Orlando Pirates form a ground-breaking multi-million rand partnership
Standard Bank and Soweto soccer giants Orlando Pirates today announced a ground-breaking R25-million business partnership which will see Bucs supporters being given deals at soccer games, preferential seating, discounts on Pirates clothing and exclusive competitions.
Under the five-year agreement, Standard Bank will provide Orlando Pirates and its supporters with a full range of cost-effective banking products and services, including co-branded Maestro debit cards and MasterCard credit cards.
The first phase of the venture will see the introduction of jointly branded Orlando Pirates Maestro debit cards at the start of the new soccer season in July.
The deal is worth R5-million a year to Pirates. Over and above this, the club will receive a fee per active card and a percentage of the turnover when cards are used for payments at stores displaying the Maestro sign.
Plans to introduce supporter credit cards, funeral schemes and unit trust offerings are under way.
Says Jacko Maree, Standard Bank Chief Executive: "We are very excited about this relationship with Orlando Pirates, one of Africa’s most successful soccer teams. Both Pirates and Standard Bank are significant institutions in South Africa and throughout the continent.
"Our alliance is two-fold. Firstly, it is a business venture from which both parties will benefit. Pirates supporters who become cardholders will have access to our E-Plan branches and our ATM network as well as special benefits when attending games. Standard Bank’s strong franchise in the mass market will also be considerably enhanced. Secondly, in the government’s national imperatives, both parties want to use this deal as an opportunity to foster a culture of savings in South Africa. We see this as a positive start towards instilling a tradition of saving through sport which will improve our economy."
Irvin Khoza, Orlando Pirates Chairman, said the partnership will provide another strong channel for Pirates to develop its support base.
"Our supporters have been behind the club since its inception in 1937. They have built it to what it is today. This deal is a way of ploughing back and rewarding our supporters for their loyalty. For example, out of a R75 card balance, R25 will be transferred to the Orlando Pirates supporters’ club bank account.
" We look forward to joining forces with South Africa’s premier banking group, the Standard Bank. It has the most advanced mass market presence and infrastructure, the most powerful brand in financial services and a value system that we closely identify with."
To acquire an Orlando Pirates Maestro card from July 2001, supporters need only R75 and an identity document. Supporters aged under 18 may also open an account with the assistance of their parents. Accounts can be opened at any Standard Bank AutoBank E Centre, and cards will be issued on the spot. The product includes an insurance element.
The partnership is the beginning of a long-term relationship between two leading institutions committed to improving the lot of all South Africans by providing sound and comprehensive banking financial services to all South Africans. As bankers to the nation, Standard Bank is proud to associate itself with South Africa’s national sport and Africa’s greatest football club.
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