ThankYou Network Offers Greater Flexibility and Limitless Possibilities with Prepaid Cards
Members Provided More Choice in Redemption Options with Lower-Priced Everyday Rewards.
New York, October 17, 2008 – In an effort to give consumers even more freedom and flexibility when redeeming rewards points, Citi today introduced a new prepaid card rewards option for Members of its ThankYou Network.
With this new choice in the rewards collection, Members have a fresh way to redeem their rewards points faster, without boundaries or restrictions limiting what they can purchase. The prepaid cards – available in three denominations, $25, $50 and $100 – can be used at the millions of merchants and online retailers that accept Visa® debit cards. They also feature Visa's "Zero Liability" protection against fraudulent charges.
"The prepaid cards let our Members put their points to work exactly where they need them, which could mean going out to dinner, taking their family to the movies or simply buying groceries," said Nancy Gordon, executive vice president, ThankYou Network, Citi. "This new offering provides Members with the enhanced option of a more flexible and quicker redemption item. We believe the prepaid cards will complement the larger ThankYou rewards catalog, including merchandise, travel and mortgage payments."
| ThankYou Network Prepaid Card Redemption Value | |
|---|---|
| Denominations | ThankYou Points |
| $ 25 | 3,500 |
| $ 50 | 7,000 |
| $ 100 | 14,000 |
Award-winning designer Karim Rashid was commissioned to design the two lines of cards – Kroma, which features the iconic Citi bridge corporate logo, and Posy, featuring the ThankYou Network brand logo.
Rewarding Everyday Behavior
In an effort to make the ThankYou Network a meaningful rewards program that nurtures long-term relationships with its customers, Citi continually develops and provides creative options to meet consumers' diverse needs. At launch, ThankYou Network represented a groundbreaking way to show appreciation to Members using select Citi credit card and retail banking products.
Since its inception in 2004, ThankYou Network has grown to 13 million Members and has added other partners such as Citi Smith Barney and Expedia. Members can now earn points through their brokerage accounts at Smith Barney and by booking qualified travel on Expedia. They can also earn even more points by shopping through ThankYou Network's Bonus Center, which features more than 300 brand-name online and in-store retailers.
ThankYou Network's prepaid card program is managed and operated by Citi® Prepaid Services, previously known as Ecount. This division provides fully custom prepaid solutions for public and private organizations looking for simple, convenient, economical electronic payment delivery.
About Citi Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Nikko, and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
About Citi Prepaid Services
Citi Prepaid Services (formerly Ecount) is a leading provider of innovative prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid's custom programs for all types of payments including compensation, promotions and disbursements.