Citi and Grab has announced their partnership across five markets in the Asia Pacific offering the Citi credit card holders the option to pay their Grab rides using their Citi points.
This service is first in Asia which encourages the convenience of cashless payments to more customers. The Citi points will be available to Singapore, Philippines, Indonesia, Malaysia and Thailand.
For the initial phase, customers who will add their Citi credit card in GrabPay will get a number or free rides worth up to USD50. The next phase will allow all customers to pay for Grab rides using the points.
Customers will receive an SMS from Citi with a request if they want to redeem the ride in exchange for points. Upon acceptance, the redemption will be reflected in the customer's monthly banking statement.
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“By grounding our reputation in safety, quality and availability, Grab is now the trusted, ride-hailing leader in our six markets with one in eight smartphone users in Southeast Asia already on our platform. As customers use Grab for their regular transport needs, many of them are choosing to go cashless by adopting GrabPay for a more seamless ride experience. We are thrilled to partner with Citi to extend its best-in-class loyalty capabilities to make it easier to serve and reward our customers in the region,” said Joel Yarbrough, Head of Payments and Commerce Product, Grab.
“Our strategy in consumer banking is to be the world’s leading digital bank which includes delivering a remarkable client experience in key digital ecosystems. We have seen that the rapid adoption of mobile and other digital channels has truly transformed how and where people bank and we are delighted to partner with Grab. By integrating our services into key applications such as Grab we also will drive growth in our cards business via new acquisitions and increased customer loyalty,” said Anand Selva, Head of Asia Pacific Consumer Banking for Citi.
For the initial phase, customers who will add their Citi credit card in GrabPay will get a number or free rides worth up to USD50. The next phase will allow all customers to pay for Grab rides using the points.
Customers will receive an SMS from Citi with a request if they want to redeem the ride in exchange for points. Upon acceptance, the redemption will be reflected in the customer's monthly banking statement.
