Toyota (GB) Plc Launches Fuel Card Incentive Programme with Citi® Prepaid Services
London - May 24, 2011 – Citi Global Transaction Services announced today that Toyota (GB) Plc, a division of Toyota Motor Corporation, the Japanese-based automobile manufacturer, has chosen Citi Prepaid Services to launch their Fuel Card consumer incentive programme in the UK. Drivers who ordered a new Toyota Yaris car during the month of April, and registering it before 30 June, will be given a Citi prepaid Visa® card loaded with £548.15, covering an average of six months’ worth of fuel redeemable at any brand of petrol station that accepts Visa. Toyota is the first automobile manufacturer in the UK to launch such an innovative fuel promotion using prepaid cards .
This flexible Toyota-branded Citi prepaid card solution offers consumers a clear advantage over using conventional incentive vouchers. Traditionally, fuel vouchers can only be redeemed at one designated petrol station, posing an inconvenience to the driver who is required to find one particular brand of petrol station. The benefit of a Visa prepaid fuel card is that the consumer can spend their funds at the nearest brand of petrol station that accepts Visa, rather than driving around trying to find a particular brand of petrol station. As the card is Toyota branded, Toyota also benefit from the fact that every time a customer uses their prepaid Fuel card they will have an interaction with their brand. Cardholders can also check their balance online and via the Citi call centre.
In a UK consumer research study conducted in March by Citi regarding consumer payment preferences, a vast majority--91%--of 1,061 consumers surveyed ages 16-64 favour prepaid Visa cards over fuel vouchers of equal amount.
Matt Harrison, Toyota’s Commercial Director said, "With the highest petrol and diesel prices we've seen for years, it’s the perfect time for Toyota to take the initiative and give our customers a benefit that's of real value day-to-day. We feel that Citi’s innovative prepaid card solution will offer our customers great flexibility and convenience."
Jay Hershman, EMEA Prepaid Sales Head, Citi, said, "Citi is very pleased that Toyota will be utilising our innovative Prepaid card solution for their fuel incentive promotion, which will bring additional value, flexibility and convenience to their valued consumers."
Citi Prepaid Services is experienced in implementing custom prepaid card solutions in the automotive sector. In addition to the Toyota (GB) Plc fuel card incentive programme, Citi also runs a successful reloadable sales incentive programme with Toyota in the U.S.
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.
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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the first quarter of 2011, it held on average $355 billion in liability balances and over $13 trillion in assets under custody.
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.
Toyota is one of the world’s best-known and most successful businesses, building cars and trucks in 26 countries for sale in more than 170 markets around the globe. Worldwide production was 8.6 million (7.6 million for Toyota and Lexus brand vehicles) in 2010, making Toyota Motor Corporation (TMC) the world’ss largest vehicle manufacturer in terms of product volume.
Much of Toyota’s worldwide success has been achieved through its forward-looking approach and its determination to explore new concepts and technologies. Innovation has been sought not just for the sake of science, but in order to deliver increased safety and performance and environmental benefits in Toyota’s mainstream product range. Toyota invests more than £2 billion a year in technology and development of new products, more than any other manufacturer. Furthermore, around a quarter of the research and development budget is dedicated to alternative fuel sources.
Toyota (GB) PLC is the company responsible for sales, marketing, after sales and customer relations for Toyota and Lexus in the UK, employing more than 400 people at a landmark headquarters building in Surrey. The sales performance over the past decade has consolidated the UK’s position as one of Toyota’s strongest European markets.