Hot on the heels of its 7th anniversary celebration in the Philippines, Grab marks another milestone in the country as it partners with Citi to launch its first and exclusive co-branded credit card in Southeast Asia.
The Citi Grab co-branded credit card is rolling out first in the Philippines on June 18, 2019. After the Philippines, the card will be launched in Thailand to be followed by Grab’s other significant markets in the region.
Grab and Citi’s Consumer Banking business has been collaborating since 2016, starting off with the latter’s participation in Grab’s financing round through Citi Ventures, the bank’s venture capitalist arm.
“Citi has been a long-term partner since 2016 and there is a great synergy between both Citi and Grab,” said Huey Tyng Ooi, Managing Director of GrabPay Singapore, Malaysia, and the Philippines. “The Citi Grab credit card is a natural next step as we create more value for our digital-first, always-in GrabPay users. This will bring us one step further in realizing our vision of becoming the leading everyday super app in SEA.”
“We are delighted that the Philippines will be the first market to launch the Citi Grab co-branded credit card,” said Manoj Varma, Consumer Bank Head, Citi Philippines. “We are excited to work with Grab to offer the best credit card value proposition to Grab’s all-digital consumer base.”
Citi Grab cardholders are privileged to enjoy exclusive offers and rewards which include: 10x points earning on Grab spend from getting a ride to getting deliveries; Platinum Tier upgrade for the first six months, giving cardholders priority booking benefits and dedicated customer support; and 3x points on dining, entertainment, and online subscriptions, while all other spends will earn one point for every P30 spend.
Cardholders are also entitled to twelve free Grab rides upon sign up equivalent to P2,500 worth of GrabPay Credits upon spending the first P10,000 within 60 days of using the card. Cardholders can also get a free Grab voucher worth P2,000 when they use the card to top up their GrabPay wallet at least P1,000. Membership fees for principal and supplementary cards are also waived for the first year.