June 12, 2019
Citibank entered a partnership with Grab, the leading Southeast Asian ride sharing, food delivery and mobile wallet app, on a co-branded credit card that is launching immediately in the Philippines and will expand to Thailand by the second half of 2019, according to a press release.
Card holders will get rewards points and also get special discounts and vouchers for services offered by Grab.
"The launch of the Citi-Grab credit card strengthens our continued successful partnership with Grab and gives Citi the opportunity to leverage our expertise in credit card services to a new all-digital consumer base," Sergio Zanatti, head of cards and personal loans, Asia Pacific at Citi, said in the release.
The two companies have worked together since 2016 as Citi cardholders have been able to use their rewards points for Grab services. Citi has also participated in financing Grab through its Citi Ventures unit and Grab is a commercial banking client of the bank.
Grab has been downloaded by 150 million mobile devices, provides access to 9 million drivers, merchants and agents, and customers completed more than 3 billion rides since the company launched in 2012.
Citi has more than 200 million customer accounts and operates in more than 160 countries and territories around the world.
Topics: Card Brands, Mobile Banking, Mobile/Digital Wallet, Mobile Payments, Region: APAC
Companies: Citi, Citibank, N.A., Grab
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