Citi, Grab launch Citi-Grab credit card for Southeast Asia

Co-branded card is available in Philippines from June 11 and will be launched in Thailand in the second half of year

Grab and Citi have launched an exclusive co-branded Citi-Grab credit card across Southeast Asia. The card is available in the Philippines from June 11 and will be launched in Thailand in the second half of the year.

The co-brand card partnership expands an ongoing collaboration between Citi’s Consumer Banking business and Grab that dates back to 2016.

Grab will be able to offer its users credit card benefits and rewards and extend its offering to Citi’s affluent cardholder base in the region. Citi will be able to scale its business to Grab’s unique mobile-first user base in Southeast Asia.

“Citi has been a long-term partner since 2016 and there is great synergy between both Citi and Grab. The Citi Grab credit card is a natural next step as we create more value for our digital first, always in GrabPay users,” says Huey Tyng Ooi, managing director of GrabPay Singapore, Malaysia, and the Philippines.

“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,” says Sergio Zanatti, head of Cards and Personal Loans, Asia Pacific, Citi.

In 2016, Citi and Grab announced their first partnership across six markets in Southeast Asia. In what was a regional first, the partnership enabled Citi cardholders to use their earned points and miles to pay for rides on the Grab platform.

Since then, the partners have widened the scope of their cooperation to include all of Grab’s services. This includes incentives for topping up the GrabPay wallet, to gifts and cashback benefits for spending on Grab services.

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Date

12 Jun 2019

Channel

Capital Markets

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