Samsung UK and Citi Prepaid Services Launch Consumer Rewards Programme
London - August 16, 2011 – Citigroup, through its Global Transaction Services unit, today announced a joint initiative between Samsung Electronics UK Ltd and Citi Prepaid Services for a UK-based customer cash back promotion. Customers who purchase selected Samsung Smart Blu-RayTM Players, Freesat or Freeview Personal Video Recorder (PVR) will receive an incentive reward up to the value of £50.
Upon purchase of a Samsung Smart Blu-Ray Player, freesat or Freeview PVR, Citi's Prepaid card solution will provide customers with a Samsung Visa Rewards card up to the value of £50. These funds can be used immediately anywhere as Visa is accepted worldwide. The Prepaid card gives customers the flexibility and convenience to spend their funds wherever and whenever they wish, without the hassle of waiting for a cheque to clear.
The new method provides multiple opportunities for Samsung as a brand to communicate directly with its customers plus provides a new approach to its cash back scheme. Previous promotions have rewarded Samsung customers’ cash back through cheque payments whereas in comparison this solution allows customers instant rewards.
Andy Griffiths, Vice President, Consumer Electronics at Samsung UK, said, "Samsung is very pleased to work with Citi Prepaid Services on our customer Cashback promotion, driving sales of High Definition Personal Video Recorder & Blu-ray products and providing our valued customers with a flexible, convenient and immediate form of payment. Customers’ use of the Samsung branded card will further expand our brand name within the AV market and impact it in a positive way. "
Jay Hershman, EMEA Prepaid Sales Head, Citi, said, "Citi is very excited to work with Samsung UK on their customer cash back promotion. Citi’s prepaid card solutions will serve to increase Samsung's brand visibility in the competitive electronics marketplace, and will offer their valued customers an easy and convenient payment method."
Samsung is the first manufacturer in the UK audio visual sector to offer customers a prepaid card incentive. Additionally, Samsung UK is the first to adopt Citi’s prepaid card programme for customer incentives within Samsung globally, but other Samsung countries are looking to work with Citi Prepaid Services to implement other prepaid card programmes.
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.
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About Citi 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, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2011, it held on average $365 billion in liability balances and $13.5 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.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2010 consolidated sales of US$135.8 billion. Employing approximately 190,500 people in 206 offices across 68 countries, the company consists of nine independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Digital Imaging, Memory, System LSI and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, semiconductor chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.