Citi and Grab unveil Asia collaboration


Ride hailing platform Grab have announced a new deal for the company across five Asia-Pacific markets, partnering with Citibank.

Fintech start-up Grab will now allow Citibank customers to pay for rides with credit card points, with the aim of encouraging the adoption of cashless payment services. The new partnership venture will see the service delivered to Citibank customers in Malaysia, Thailand, Singapore, Indonesia and the Philippines.

The collaboration with Grab will allow Citi to expand its work with fintech enablers. Citi head of Asia-Pacific consumer banking Anand Selva said it would open the bank up to further opportunities for increasing customer base and innovative measures.

“By integrating our services into key applications such as Grab, we will drive growth in our cards business via new acquisitions and increased customer loyalty,” he said.

“The rapid adoption of mobile and other digital channels has truly transformed how and where people bank.”

Paying for Grab rides with Citi credit points was trialled earlier this year in Singapore, with Grab customers who signed up for a Citi credit card receiving a number of free rides of up to $50 in value.

The pay for rides service using credit points is the first in the Asia-Pacific region.