CITIBANK has launched the first online credit card application and approval program in the Philippines in a demonstration of its confidence in the growth prospects of the credit card business in the Philippines.
David Stoughton, Citibank director for credit payment products and global consumer group, noted in a briefing in Makati City on Thursday that more than 80 percent of transactions in the country are still done in cash or check “so there are a lot of opportunities for growth and the outlook for the credit card business in the Philippines is very good.”
“We were one of the first banks to launch an online presence and also one of the pioneers in attracting customers through our web site… With this latest service, we are excited to break new ground for the industry and deliver another innovation for Filipino consumers,” Stoughton said.
Stoughton also announced their recent digital tie-up with Amazon which allows Citi cardholders to use their reward points to pay for purchases at the global online marketplace.
Last year, Citibank also forged partnerships with leading digital providers in the region including Alipay and WeChat in China and Line in Thailand and Taiwan, as well as Airbnb, Grab, Uber, Lazada and AirAsia.