Citi, Grab join forces with card-based service

A first for Asia, this service aims to encourage the convenience of cashless payments to more consumers. It will commence in Singapore and the Philippines, with Indonesia, Malaysia and Thailand to follow shortly. For Citi, the partnership marks the first time globally that the bank is integrating its credit cards with a transport application.

“By grounding our reputation in safety, quality and availability, Grab is now the trusted ride-hailing leader in our six markets, with one in eight smartphone users in Southeast Asia already on our platform. 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,” said Joel Yarbrough, head of payments and commerce products at Grab.

Anand Selva, head of Asia-Pacific consumer banking for Citi, said: “Our strategy in consumer banking is to be the world’s leading digital bank, which includes delivering a remarkable client experience in key digital ecosystems.”

As part of the initial phase, customers who add their Citi credit card to GrabPay, Grab’s mobile payment platform, receive a discounted first ride. In return, Grab customers who sign up for any Citi credit card through the partnership get a number of free rides worth up to US$50 (about Bt1,700).

The next phase will allow customers to pay for Grab rides using points. Citibank credit cardholders who charge their Citi credit card on GrabPay will receive a text message from Citi asking if they would like to redeem the ride for points. If they say yes, the redemption will be made automatically and reflected in the customer’s monthly statement.

Grab currently operates in 30 cities across Thailand, Singapore, Indonesia, the Philippines, Malaysia and Vietnam.