Citi has taken its popular rewards programme
to the app store.

The US lender has teamed up with online
retailer Best Buy to offer customers the opportunity to redeem
Thank You Rewards points via their iPhone, iPod touch and Android

The introduction of the rewards redemption app
comes just weeks after
Citi launched a new simplicity card
to appeal to a wider card
user base.

The rewards redemption app also comes at a
time when most US banks are slashing rewards in light of the Dodd
Frank Act which is expected to slash the fees that banks charge
merchants for card transactions by 80%.

The initiative is part of Citi’s group-wide
strategy to become the world’s leading financial services provider
in the digital space.

The lobal head of marketing and internet
banking at Citigroup,
Michelle Peluso told RBI
at the beginning of August
that the bank would leverage its rewards programme Citi ThankYou
into its social media strategy.

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By GlobalData

The bank has invested in a programme of online
infrastructure development with the aim of offering one seamless
experience across the digital channels.

Read the full
interview with Peluso