Durrant Pate/Contributor

NCB-powered digital wallet provider Lynk is discontinuing its incentive referral programme.

It forms the latest initiative by the NCB Financial Group, which continues in earnest with cutting costs at its digital wallet operator. In August, the NCB Financial Group advised of a staff reorganisation exercise in which Lynk positions will be terminated cut while others subsumed within the wider group. The discontinuation of the incentive will take effect September 30, 2023.

Customers were advised of the move in an email blast. In the message, Lynk advised that any pending referrals will be paid out as usual, and clients will receive the attached bonus.

It has been reported that the digital wallet has paid out some J$300 million in benefits under the referral programme. Under the incentive programme, each time a person is referred and signs up to Lynk, J$250 is credited to the wallet of the referring customer and the customer, who signed up.

When Lynk was introduced in 2021, the referral programme initially offered J$2,500. The recently minted management team at NCB Financial Group identified a number of cost savings units within the wider group with Lynk identified as one of them, where much savings can be realised.