LASCO Financial Services has partnered with TotalEnergies service stations to offer cash-back rewards for Lasco Gold Visa prepaid debit card users. The partnership, signed off in December, allows cardholders to receive $3.00 off per litre at the pumps. This initiative is part of a series of phased cash-back programmes introduced since the gold card’s debut in 2021 as Lasco Financial Services aims to boost registration and sign-ups for the card.

“Once you buy petrol at any participating TotalEnergies location, you get an equivalent of $3 per litre of whatever you see as the advertised price at the pump. So it will be in the form of a cash back the following day,” explained Jacinth Hall-Tracy, managing director for Lasco Financial Services, in an interview with the Jamaica Observer.

There are 65 TotalEnergies service stations participating in the programme. According to Hall Tracey, customers will receive $3.00 off per litre on a regular basis, which translates to a 1.5 per cent discount on the per-litre price. On specially designated days, Lasco Financial Services will double the discount to $6.00 per litre. While the specific days for the “double-up” discount have not yet been finalised, Hall Tracey assured us that it will occur at least once a month.

“So we’re looking at motivating the customer. So it could be Wednesday; it could be, you know, we haven’t settled on the days yet. We want to first roll out one time a month for the double days, but every day will be the $3.00 off per litre,” she assured.

The “double-up” days will be announced in advance, allowing motorists to plan and maximise their savings by refuelling on days when they can get $6.00 off per litre. According to Hall Tracey, TotalEnergies was seeking a partner with innovative solutions to help expand its market footprint. With Total’s special relationship with transport operators and Lasco Financial’s connection to public passenger vehicle (PPV) licence holders, the partnership was described as a “perfect fit” for both companies. Hall Tracey also highlighted that Lasco Financial Services had analysed its database and discovered that many of its cardholders frequently use gas stations, further solidifying the partnership as a natural way to benefit customers.

Initially introduced as a remittance card, the Lasco Gold card is now aiming to gain recognition as more than just a remittance tool. While many of its early sign-ups were driven by the need for remittance services and to fill a gap among Jamaica’s unbanked population, the card has evolved into a versatile debit card. Typical users now utilise the card for everyday transactions, such as purchasing food, paying utilities, and buying petrol. Lasco Financial Services has been running cash back programmes for several months, having launched these initiatives in 2023 to further enhance the card’s appeal and usability. The first cash-back programme for the Lasco Gold card launched in the summer of 2023, featuring Ice Cream Sundays at Devon House and Doughnut Fridays. Following this, Lasco began a partnership with Progressive Groceries, offering $2,000 cash back for customers who spent $15,000. These programmes are done in cycles, with each phase introducing new offers. Between December and January 31, Lasco has been running a programme in which customers receive $1,000 cash back when they transfer MoneyGram funds through the app onto the card. Additionally, on Fridays, customers receive an extra $2,000 voucher. The upcoming gasoline cash-back programme, which offers discounts at Total Energies service stations, is set to run until November 2025, making it the longest cash-back initiative Lasco has ever undertaken.

“Our aim really is always to look at ways to continue to engage the customers. Now that you have the card, it’s not just for receiving remittance. Let us keep you excited about using our card, Hall Tracey told the
Business Observer.

The Lasco Gold Visa prepaid debit card offers users the ability to make and receive payments seamlessly. Supported by an app, the card allows for person-to-person (P2P) payments, enabling users to send money just like other payment platforms. Users can also receive funds from overseas directly to their card, and any MoneyGram customer in Jamaica can sign up for the card, input his/her reference number into the app, and pull the funds onto his/her card — all within minutes. Additionally, the card can be used for online shopping.

“It’s more than a debit card, and we’re engaging in these exciting collaborations to help people recognise the value of having a Lasco Gold card in their pocket,” said Hall Tracey.

Lasco Financial Services is targeting 25,000 new cardholders this year, with at least 5,000 additional sign-ups expected through this initiative.