Banking giant Citi has partnered with Grab, a Singapore-based ride-hailing platform, to promote cashless payments.
The partnership will be launched across five markets in Asia Pacific, beginning in the Philippines and Singapore, with Indonesia, Malaysia and Thailand to follow shortly.
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The partnership will allow the bank’s credit card holders to pay for their Grab rides with their credit card points.
Joel Yarbrough, head of payments and commerce product at Grab said: “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.”
Citi head of Asia Pacific consumer banking Anand Selva said: “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.”
Grab currently operates in 30 cities across Singapore, Indonesia, Philippines, Malaysia, Thailand and Vietnam – markets and cities through which Citi offers consumer banking services including credit cards.
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By GlobalData
