Standard Bank and British Airways (BA) have decided to end their jointly branded credit card initiative, Avios, from 31 January 2014.
The move by Standard Bank follows its claims that cardholders are no more interested in Avios air miles, a programme where cardholders earn BA Avios air miles upon spending by using their cards.
Standard Bank spokesman, Ross Linstrom, was quoted by Independent Online as saying that while they believe this partnership brought value to their customers, a strategic decision was made to terminate the relationship.
"All affected customers will be informed of alternative offerings after the termination date of January 31," Linstrom added.
Standard Bank is alternatively coming up with a new loyalty programme, UCount, and forcing cardholders to sign up to the programme.
Linstrom said Standard Bank customers have, through direct discussions and surveys, indicated that their rewards and loyalty bonuses should be more relevant to their daily lives and also be more immediate in terms of redemption.
"As such, Standard Bank has taken a strategic decision to ensure that our customers are rewarded in a manner best suited to their needs," Linstrom added.