Ðiscovery Miles: Creating a rewards currency more valuable than cash

In an exciting new research paper, we detail the true value clients gain from our shared-value rewards currency, Ðiscovery Miles (Ð). Since January 2020, over Ð31 billion has been earned by Discovery Bank clients, and over Ð10 billion is expected to be paid out to them in 2024 alone.

The new research uses real-life case studies and examples to showcase how this unique currency, integrated across Vitality Health, Drive, and Money, proves to be more valuable than cash.

A brief history: The journey of Ðiscovery Miles

Ðiscovery Miles first started with clients earning them for every card swipe. The programme quickly expanded, with Discovery Bank clients getting automatic savings when using Ðiscovery Miles at wide range of over 40 retail partners. Vitality rewards also transitioned from cash back to Ðiscovery Miles, boosting their value and appeal.

A shift to rewarding healthy behaviours with Ðiscovery Miles allowed the bank to offer greater discounts and savings. Earning opportunities grew with integrations into Discovery Invest, Discovery Life, and Discovery Insure, and enhancements to Vitality Active Rewards, which offered a personalised rewards experience across Vitality Money, Vitality Health, and Vitality Drive.

The success of Ðiscovery Miles then led to the creation of Miles Ð-Day, a monthly event on the 15th where discounts double, making them even more valuable. For instance, using just Ð1,000 on Miles Ð-Day gives clients R143 worth of purchasing power.

Highlights from the new report

  

This year, clients are expected to earn over Ð10 billion, translating to a redemption value of R1.4 billion.

What makes Ðiscovery Miles so valuable?

The research highlights four key benefits of Ðiscovery Miles for clients:

1. Rewarding healthy behaviours: Clients earn Ðiscovery Miles by managing their money well, staying healthy, and driving safely. This pioneering shared-value model benefits not just individuals (by encouraging them to adopt healthier lifestyles), but society as a whole.
2. Unparalleled earning opportunities: Clients can earn Ðiscovery Miles through a wide range of activities and interactions throughout the day, across Discovery Invest, Discovery Life, and Discovery Insure. This diverse choice of earning opportunities makes it easier to accumulate Ðiscovery Miles.
3. Flexible redemption options: Clients can conveniently redeem Ðiscovery Miles across an extensive partner network, catering to a broad spectrum of buying preferences.
4. Superior value: Ðiscovery Miles are highly desirable due to their superior value compared to traditional cash rewards. They offer better benefits, driving engagement and the pursuit of healthy behaviours.

Learn more about how Ðiscovery Miles provides exceptional value by reading the white paper today, and start experiencing their full potential as you unlock greater rewards!

Rewards based on your engagement in Vitality programmes, Discovery products, and monthly qualifying card spend. Discovery Miles are more valuable than cash on the Discovery and Discovery Bank app, in-store and online with Discovery Vitality partners. Discovery Bank, Auth FSP48657. Limits, Ts&Cs apply.