Nikon UK and Citi Prepaid Services Announce Prepaid Card Rewards Programme
London - January 17, 2011 – Citi Global Transaction Services announced today that Nikon UK, a Japanese based multi-national consumer electronics company specialising in optics and imaging products, will partner with Citi Prepaid Services for their UK consumer cash back programme. Citi will provide an efficient, best-in-class Nikon branded Visa Prepaid card solution to customers who purchase a Nikon product with an associated cash back promotion.
For years, Nikon UK has been running customer cash back promotions with cheques as the method of payment. Cheque payments posed limitations for both Nikon and its customers as they provided no opportunity for Nikon branding or an ability to cross-sell other Nikon products. Consumers were also inconvenienced because they needed to cash cheques and potentially wait several days to collect their funds.
By switching to Citi’s Prepaid card solution, Nikon’s customers will now receive a custom Nikon-branded Visa rewards card. Cardholders will be able to use their Nikon Rewards Card immediately anywhere Visa is accepted worldwide, giving them the flexibility to spend their funds as they wish. When consumers do spend their funds, they will now have a brand impact with Nikon every time they use their card.
Jeremy Gilbert, Group Marketing Manager at Nikon UK, said, "Citi’s Prepaid card solution will enhance our cash back programmes by replacing cheques with a fully branded Nikon Visa Prepaid card that further extends marketing opportunities for the brand. Consumers can spend their funds immediately at millions of Visa merchants around the world and when they do spend their funds, they will have a brand association with Nikon. We feel our customers will greatly benefit from a flexible and convenient payment solution."
Jay Hershman, EMEA Prepaid Sales Head, Citi, said, "Citi is delighted to announce that Nikon UK will be utilising our Prepaid card solution, which will bring additional value to their consumer cash back promotions. The integrated branding and messaging of our Prepaid card solution will drive delivery of their consumer incentives payments with measurable impact."
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Global Transaction Services
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody. For more information on Citi’s Global Transaction Services, visit www.transactionservices.citigroup.com/transactionservices/home/
About Citi® Prepaid Services
Citi Prepaid Services is a leading provider of innovative corporate Prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programmes 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 programmes for all types of payments including compensation, promotions and disbursements. For more information about Citi Prepaid Services, visit www.citiprepaid.com.
CFounded in Japan in 1917, Nikon has grown to become the world leader in digital and precision optics technology with a strong presence in all four corners of the world.
Through its award-winning product line-up, including entry-level and professional digital SLR cameras, interchangeable NIKKOR lenses and the consumer COOLPIX range, Nikon regularly raises the standard in product design and performance. With over 90 years of engineering expertise, it is no wonder that Nikon is the top choice for photographers around the world.
In 2009, Nikon celebrated two key milestones in the lens category – the 50th anniversary of its legendary F-mount SLR lens-mounting system, making it the only manufacturer to sustain its original lens mount for such a long period, and has recently exceeded production of over 55 million NIKKOR lenses. Both highlight Nikon’s dedication to producing quality and functional products that can be used by photographers for years to come.
Nikon also produces equipment such as IC and LCD steppers and scanners, instruments such as microscopes and semiconductor inspection equipment. Other products include sports optics products such as binoculars, rangefinders and fieldscopes, ophthalmic lenses and surveying instruments. It is the only major optical company in the world that still controls and manufactures every aspect of its glass-making business, allowing it to finely tune Nikon lens specifications, quality and performance.
Nikon has consolidated net global sales of 785,499 million Japanese Yen (year ending 31 March, 2010) and Nikon Corporation is listed on the Tokyo stock exchange.