Citi, PChome launch “Citi PChome Prime cobrand card”

Citibank Taiwan announced its cooperation with PChome to launch the new “Citi PChome Prime cobrand card”. Citibank Taiwan Consumer Business Manager Dennis Hussey (from left), EasyCard Corp Chairman Kenneth Lin, Citibank Taiwan Chairman Paulus Mok, PChome Chairman Jan Hung-tze, The Director General of Department of Commerce, MOEA May Lee and PChome Online General Manager Kevin Tsai attended the press conference to witness the milestone.

Citibank Taiwan announced its cooperation with PChome Online Inc to launch the new “Citi PChome Prime cobrand card ” to create a wide variety of benefits and privileges for online shoppers. Using their Citi PChome Prime cobrand card, cardholders can not only earn up to 6% reward points at PChome Online, but also enjoy a 0.5% cobrand points on local spending and earn up to 1.5% cobrand points for overseas spending. The cumulative cobrand points can be offset for purchases at PChome Online, deducted from credit card bills, used to redeem a broad range of mileage programs, and offset for any purchase at different redemption channels including cinemas, restaurants and travel agencies. Citi PChome Prime cobrand points never expire.

Two leading brands work together to fulfill online shopping demand

E-commerce is booming all over the world and the growth trend of e-commerce in Taiwan is also unstoppable. Over the past three years (from 2014 through 2017),Citi credit cards have shown significant growth in all indicators of the online shopping categories, according to the internal data of Citi credit cards. The amount and transaction of credit card spending increased by nearly 20% and 30% respectively. The growth rate of the amount/transaction of online shopping categories accounted for a quarter of the total amount/transaction of online shopping categories, i.e. 25% and 23% respectively.

According to PChome Online, up to 85% of its members chose to pay by credit card. It is obvious that quick and convenient payment methods contribute to important online shopping experience. As a result, Citi had added major online shopping sites at home and abroad into its credit card program “Good Day for You!” by the end of 2015 to provide its card members with a combination of physical and virtual promotions. After that, the leading bank further deepened its partnership with PChome, the leading brand of e-commerce in Taiwan, and exerted their brand advantages to launch this cobrand card meeting the needs of each other’s customers.

“Citi is very glad to deepen our more than ten-year partnership with PChome and work together to issue Citi PChome Prime cobrand card,” said Paulus Mok, Chairman of Citibank Taiwan. “As a leading brand in credit cards, the activation rate of Citi credit cards finishes first in the banking sector. Through observation of market trends, Citi has been committed to delivering remarkable experiences that meet consumer expectations. We are confident that working together with PChome, which has a very large premium membership, will definitely deliver synergies of both sides’ advantages so as to create a win-win-win situation for two leading brands and consumers.”

“Over the past 18 years, PChome has continued to pioneer the innovative development of e-commerce in Taiwan, enabling Taiwanese consumers, brand owners, and small and midsize companies to enjoy thoughtful service and convenience driven by e-commerce. And thus we have achieved the spirit of ‘everyday reliable’ service,” PChome chairman Jan Hung-tze said. “Our next step that we have been preparing for a long time is the value-added membership service ‘everyday prime,’ which will set a new benchmark for membership services in the e-commerce sector. By taking advantage of more than 5 million products and 10 million members at PChome Online, we joined forces with Citibank Taiwan to launch ‘Citi PChome Prime cobrand card’ as the first step of our cooperation. Not only do PChome Prime cobrand card members enjoy more exclusive benefits, we will also combine the cross-analysis data of online and offline consumer behaviors from both sides in a bid to create more exclusive benefits and services for our members in the online and offline consumer scenarios around Taiwan.”

“‘Digitalization is an important business strategy of Citigroup. Citi also continues to invest in digitalization-related fields, ”said Dennis Hussey, Consumer Business Manager for Citi Taiwan.“After launching the online credit card application via Citizen Digital Certificate (MOICA)in early 2017 and the credit card service known as “Verified by NCCC ”in the first quarter of 2018, Citi actively adopted the Open Banking strategies to optimize customer experience of the credit card application process through the opening of application programming interfaces (APIs). This collaboration with PChome, through the opening of Citi APIs, will facilitate the cooperation between both sides and save time for customers without filling out their basic information to improve the efficiency of the application process.”

Three major privileges for online shopping and general purchases

Combining resources of two leading brands Citi and PChome, Citi PChome Prime cobrand card tailors three major privileges and advantages to online shoppers in the hope of providing remarkable client experience for cardholders doing online shopping and making general purchases.

  • Earn up to 6% reward points at PChome Online

Using Citi PChome Prime cobrand card at PChome Online, cardholders can enjoy a 2% cobrand points and 2% virtual currency P-coin rewards on all PChome online purchases (installment plans included). Get an extra 2% P-coin rewards on everyday spending from now until June 30, 2018. Earn an extra 2% P-coin rewards on every Thursday purchases from July 1 through December 31, 2018. Such benefits equal a maximum of 6% reward points.

  • Enjoy a 1.5% reward points for overseas spending other than PChome Online

Cardholders can enjoy a 0.5% cobrand points on local spending and earn 1.5% cobrand points for overseas spending by using Citi PChome Prime cobrand card other than PChome Online. This cobrand card offers generous rewards for physical and online channels, as well as local and overseas spending.

  • A wide variety of redemption options

Cardholders may use the P coins to pay bills while shopping at the PChome online. 1 P coin equals NT$1. P coins are valid for one year from the date of purchase. The validity of extra P coins is subject to change until further notice on the PChome’s website.

In addition to deduction from the PChome order amount, the cobrand points can be not only offset for any purchase including Wang Steak restaurants, Vieshow Cinemas, Lion Travel Service Co, and Cola Tour, but also directly deducted from credit card bills and used to redeem a wide range of mileage programs. With many redemption channels, Citi PChome Prime cobrand points never expire.

New card members can enjoy the following benefits in celebration of the launch of Citi PChome Prime cobrand card. From now until July 31, 2018, those applying for Citi PChome Prime cobrand card for the first time through the event website and getting approved can enjoy an additional gift after NT$490 in purchases at PChome Online within the first 30 days from the date of card issuance. They can pick one of four extra gifts including free music online at KKBOX for 270 days, one set of classic German dinnerware, a pair of exclusive limited-edition headphones from Audio-Technica, and 3 hours’ free parking from iParking APP for 60 days. Items are subject to availability.

For more details and the terms and conditions of Citi PChome Prime cobrand card: www.citibank.com.tw