Citi Partners with MoneyBack on First-of-Its-Kind Points Conversion Program

HONG KONG, CHINA - Media OutReach - 15 January 2019 - Citigroup Inc. (NYSE: C) - Citi today announced a new API (application programming interface) partnership with MoneyBack, the customer loyalty program operated by the world's largest health and beauty retailer A.S. Watson Group whose portfolio includes the PARKnSHOP, Watsons and Fortress retail chains. By integrating the Citi rewards redemption functionality into the MoneyBack platform, Citi cardholders can conveniently convert their credit card points into MoneyBack points on the MoneyBack website or mobile app. The MoneyBack points can immediately be used at over 600 partner outlets, including PARKnSHOP, Fortress, Watsons for cash discount, coupon and product redemptions. 

 

The launch of the API-enabled service with MoneyBack follows the series of partnerships announced by Citi in 2018, which involve the use of the bank's proprietary APIs in various categories covering Cards, Customers, Money Movement, and Onboarding. In Hong Kong, Citi has so far published 37 APIs through the Citi Developer Portal for external partners to build innovative solutions centered on customers' digital lives.

 

Lawrence Li, Head of Cards and Unsecured Lending at Citibank Hong Kong, said, "We are delighted to be partnering with a forward-thinking global retail leader that shares the same commitment to investing in innovation and delivering the best customer experience. Enabling customers to conveniently access our products and services in the digital ecosystems where they are active will continue to be our priority in 2019. We will achieve this by building partnerships with like-minded companies and fully leveraging the power of APIs."

 

The launch of the Citi Developer Portal and adopting an open API architecture are part of Citi's overall strategy to digitize its credit card business as consumer habits and preferences evolve.  At Citi Hong Kong, currently one in three new credit cards and over 60% of personal loans come from online applications, and over 80% of reward redemptions are performed through digital channels.

 

Limited-Time Offer

 

From now until 31 March, 2019, eligible Citi cardholders can earn a one-time 2,500 complimentary Moneyback Points when they make a successful conversion from Citi credit card points to Moneyback Points. 

 

Citi cardholders who sign up to become a MoneyBack app member during the promotion period and make a successful conversion from Citi credit card points to Moneyback Points on the MoneyBack app will receive an additional 1,500 MoneyBack Points. Therefore, the total complimentary MoneyBack points received during the promotion period can be up to 4,000 (redeemable for HK$80 worth of shopping discount). First-come, first-served quota and other terms and conditions apply. For further information, please visit www.citibank.com.hk/moneyback.

 

To convert Citi credit card points to MoneyBack Points, follow the steps below:

 

1.    Log in to the MoneyBack website or app, select "Convert Points"

2.    Input the last 4 digits of the Citi credit card for identity verification

3.    Select the number of Citi credit card points to convert to MoneyBack Points

 

Upon successful conversion, Citi cardholders can immediately use the MoneyBack points to shop at over 600 MoneyBack partner retail outlets in Hong Kong, including PARKnSHOP, Watsons, and Fortress.

 

Remarks: 

-       Applicable to Principal Cardholders of Citi Ultima Card, Citi Prestige Card, Citi PremierMiles Card, Citi Rewards Card, Citi Gold Card and Citi Classic Card issued by Citibank (Hong Kong) Limited only. Excludes Citi Rewards UnionPay Card, Citi Cash Back Card, Citi Clear Card, Citi Octopus Credit Card, Citi Cash Back American Express® Card, and all Citi Supplementary Cards and Citibank® ATM Card.

-       The promotion period is from January 14, 2019 to March 31, 2019, both dates inclusive. Quota applies on a first-come first-served basis.

-       To use the MoneyBack Points conversion service, cardholders have to register with MoneyBack using the same mobile phone number that is registered with Citi.

 

About Citi

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.

 

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi