There’s nothing more convenient than having the ability to hire a ride from relatively anywhere in the city. Since Singapore is known to be one of the most booming areas for startups and small businesses, Citigroup has agreed to work with Grab to make ride hailing substantially easier for customers.
According to sources, Citigroup and Grab are devising a strategy that will allow users of the Grab app to get rides with the use of the points that they have through using their Citigroup credit cards. The main objective of Citi, one of the largest credit card companies in the United States, is to broaden their network of users particularly in Southeast Asia.
With the help of this idea, it helps to promote signing up for their credit cards through other means that are more accessible to the everyday consumer. For example, instead of having individuals selling credit card memberships on the street, now users can find more information about signing up entirely online.
Not only will there be benefits for Citi, but it will also be incredibly beneficial for Grab. Users that are already signed up with the financial mogul will be more likely to orders rides and support the use of local businesses. It also helps to spread awareness about app-based services including food delivery and taking advantage of mobile wallets.
The idea of partnering with Grab is brilliant not only because it’s a local startup in Singapore, but also the company has gathered over $700 million in profits since they begun in 2012. This is one of the most popular startups in the entire region.
Imagine being able to take advantage of simple transportation just because you regularly use your credit card. It’s essentially a way for you to find transportation entirely for free. As users continue to use their Citi credit cards, each purchase will warrant a certain amount of points to be allocated into accounts. The point system occurs regardless of whether you intend to use them for Grab or not. Once you have accumulated a certain amount of points, you can sign into the Grab app and use your points for rides.
This is incredibly convenient for people that are looking for ways to cut back on costs pertaining to public transportation and it can also help to contribute to preserving the environment. The easier it is for someone to take advantage of a ride-hailing app, the less likely people are to have their own vehicles. In the future, Grab may even want to consider ride sharing which gives individuals the ability to take advantage of their services and share the cost with other people that are interested in traveling to the same area.
All in all this partnership is beneficial for Citi, Grab, and the residents of Singapore. This idea could also raise awareness with other ride hailing companies around the world, making it easier for people in areas such as North America to gain access to the transportation that they need.