By Ram Superable Agustin
Ride-hailing app Grab and credit card issuer Citi have introduced in the Philippines its first co-branded credit card for the Southeast Asian region.
The Citi-Grab credit card will give 10X points for every in-app Grab transaction until June 30 next year. After that, it will become 5X points per transaction. The card also features automatic Platinum Tier Upgrade for the first six months that brings users priority booking benefits and dedicated customer support, 12 free rides, up to P2,000-worth of Grab vouchers, and 3X points on dining, entertainment, and online subscriptions.
The partnership is the result of Grab and Citi’s consumer banking business collaboration which began in 2016.
“There is great synergy between Citi and Grab. This will bring us one step further in realizing our vision of becoming the leading everyday super app in SEA,” stated Huey Tyng Ooi, managing director of GrabPay Singapore, Malaysia, and Philippines.
The Grab executive also noted that the credit card is the natural next step in Grab’s mission to create more value for GrabPay users.
Currently, aside from car and taxi hailing, Grab also has GrabFood for food delivery services, an in-app prepaid loading store, and GrabPay that aims to encourage cashless transactions.
“We are delighted that the Philippines will be the first market to launch the Citi Grab co-brand credit card. We are excited to work with Grab to offer the best credit card value proposition to Grab’s all-digital consumer base,” said Manoj Varmam, Citi Philippines consumer bank head.
“More and more customers are looking for greater convenience and greater personalization whether it is hailing cabs, shopping, or banking. We think the way to do that is through digital banking,” he added.
According to Varma, Citi has invested millions of dollars for the improvement of its digital platform capabilities.
“Citibank is the second oldest bank in the Philippines. We’ve got a long tradition of serving Philippine customers for over a hundred years,” he said.