Independent finance provider MotoNovo has begun a rewards incentive programme for dealer personnel.

Called MotorV8, the scheme replaces traditional voucher incentives with a pre-paid Visa card for participating members. Current rewards programme members are being transferred to the new system.

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Each finance transaction will increase the funds available on the card with a range of ways for dealers to increase the value of their rewards, including gambling them on a web-based game of Black Jack at the MotorV8 portal.

MotoNovo has grown its market share of the independent sector from roughly 3% five years ago to 10% at present and the changes to its dealer reward programme follows recent news of a £1.8m investment by parent WesBank and plans to expand the company.

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Karl Werner, head of sales and marketing at MotoNovo, explained: "For many dealers incentives form a key tool in motivating their team to increase sales.

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"We have developed a programme that is easy to use and easy to earn, with monies credited to the account within 48 hours ready to be spent anywhere the Visa logo is displayed."

However, writing in Motor Finance, Peter McDonnell, chief executive of reward group Cordoba Rewards, has warned incentives such as cash, vouchers or loaded credit cards could now come under greater scrutiny of the Bribery Act.

richard.brown@vrlfinancialnews.com