Acer Boosts Asia Pacific Customer Incentive Programs with Citi’s Prepaid Card Services
Hong Kong - June 8, 2011 – To improve its Singapore cash-rebate program and increase customer acquisition and loyalty, Acer Singapore has adopted Citi’s Prepaid Card programs which reduce administration costs while offering easy and secure solutions for customers.
Citi’s Prepaid Services, a division of the bank’s Global Transaction Services (GTS) business, provides customized client-branded Visa and MasterCard prepaid card solutions for brands looking for more effective and convenient ways to deliver key payments, including customer incentives and compensation, consumer rewards and refunds, and sales commissions. For the recipient, a prepaid card-based payment offers convenience and flexibility beyond competing delivery methods. Brands, meanwhile, benefit from the low costs of a completely electronic payment solution, plus the branding and loyalty options inherent in a card format.
Citi’s Prepaid Services help Acer drive increased customer acquisition and loyalty by delivering incentive payments, combining ease of use with comprehensive branding. Specific benefits to Acer include:
- The ability to offer better, universally appealing rewards when compared to vouchers, gifts and checks.
- Higher lift, greater potential spend back, and repeat purchases.
- Unique brand expansion opportunities in the marketplace as customers carry branded cash in their wallets and interact over the cardholder website.
- Differentiation for Acer as the first IT consumer product brand to launch this program.
- Simplicity of implementation as program management can be fully outsourced.
"Citi’s Prepaid Services has gained valuable experience by serving over 50 of the Fortune 100 and more than 1,500 corporations globally. We have the ability to offer Asia Pacificbased companies the cost and operational efficiencies, and the branding advantages they need to succeed in a competitive marketplace," said Jason Tiede, Regional Head of Wholesale Cards for Global Transaction Services, Asia Pacific.
"By adopting Citi’s Prepaid Card services as providers of our cash-rebate program, we have not only increased our financial and operational efficiencies, we are able to offer customers a simple, convenient, and secure cash-rebate solution," said Florence Koh, Senior Director, Marketing and Channel Sales Division, Acer. It also increases our brand impressions and provides valuable insight through robust tracking and payment reporting."
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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.
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 fourth quarter of 2010, it held $353 billion in liability balances and $12.6 trillion in assets under custody.