The Grab deal will be the first time people in Asia can use credit card points to pay for ride-hailing fares
A partnership between the Southeast Asian ride-hailing company Grab and the global banking giant Citi will allow people to pay for their rides with credit card points.
The service will initially launch in Singapore and the Philippines with an imminent roll-out expected in Indonesia, Malaysia and Thailand.
The first phase of the agreement will provide a discounted first ride for people who upload their Citi credit card to the payment platform GrabPay. For those who sign up for a Citi credit card through the partnership, they will get free rides worth US$50.
Also Read: Grab starts collaborating with Taxi companies, onboards 2nd largest taxi operator in Singapore
But the second phase of the partnership is far more interesting. When riders claim the fare using GrabPay, they will receive and SMS message asking if they would like to use points to pay for the ride. The user the replies with acceptance or denial and if they choose to use points for the ride, it will be processed and reflected in the monthly statement.
The ability to pay for a ride-hailing service using points is the first time the option has been launched in the region. It is also the first time the bank has integrated itself with a transportation app anywhere in the world.
“By integrating our services into key applications such as Grab we also will drive growth in our cards business via new acquisitions and increased customer loyalty,” said Anand Selva, Head of Asia Pacific Consumer Banking for Citi.
Also Read: Uber and Grab to be legalised in Malaysia by the end of 2016
Today’s announcement comes just a few days after Grab reached a partnership with Singapore’s second-largest taxi company Trans-cab to onboard all of its approximately 7,000 drivers onto the platform.
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Photo courtesy of 123rf.
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