Hong Kong – In Australia, Hong Kong, the Philippines and Thailand, Citi customers can now use their credit card points or miles to redeem items from a complete suite of Apple products on the bank's digital rewards redemption platform. In Malaysia, Singapore, and Taiwan, customers will be able to do the same by 2019.
This makes Citi the only bank with a cards loyalty program that offers access to a complete range of Apple products in these markets, giving customers the ability to consistently use their points and miles to upgrade their devices and electronics at no additional cost.
In addition, customers benefit from added flexibility and convenience by being able to use a combination of their points or miles and credit card payments to redeem their products of choice if they do not have enough points or miles to cover the total cost of a particular item.
"As the leading digital bank in Asia, we continue to enhance our service platform to allow our customers to make their rewards redemptions digitally for added ease, convenience and flexibility. We work relentlessly to increase the value of our Cards propositions by establishing strategic partnerships to give our cardholders more options to use their points and miles for redemptions across an increasing number of merchants and products in the region. We are pleased that our loyal credit card customers can now use their accumulated points and miles to redeem their favored Apple gadgets and products," said Sergio Zanatti, Head of Cards and Loans, Citi Asia Pacific.
Citi ThankYou rewards digital redemption platform was launched in Asia Pacific in 2015 and continues to see growing usage. In the nine months to September 30, the platform saw an over 30 percent increase in number or redeemers across nine markets in the region.
The Citi ThankYou rewards digital redemption platform offers the widest variety of redemption options in the region. In addition to a carefully curated list of merchandise, including Apple products, the site also houses a Travel Portal which gives customers the option of using their points or miles to redeem flights, hotel stays and travel-related products or services with no blackout dates.
The bank's offering further amplifies Citi's focus on digital partnerships to give customers relevancy, choice and convenience. Citi was the first bank to offer Pay with Points capabilities in Asia, enabling customers to instantly use miles or points to pay for items at partner merchants across the region including Expedia, Grab, Jetstar, Lazada, Shell, Starbucks and Thai Airways.
The bank's digital partnerships also extend to service channels on popular and social platforms including WeChat in China, LINE in ASEAN and networks like Alipay in China, PayTM in India and JETCO in Hong Kong.
Citi's ongoing focus on digital, including partnerships, continues to contribute to the growth of the Asia Pacific Consumer Banking business which comprises 12 markets in Asia Pacific and five in EMEA — Poland, Russia, UK, UAE and Bahrain. In the third quarter of the year, the business reported a 7 percent increase in net income to US$382 million.
For the nine months of 2018, revenues were up 4 percent to US$5.7 billion and net income increased by 19 percent to US$1.1 billion.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Harsha Jethnani, +852 2868-7738, email@example.com