Citi and AT&T renew their credit card partnership
Citi and AT&T renewed their portfolio of co-branded consumer credit cards in the United States as part of a multi-year extension to strengthen customer engagement and continue to deliver innovative products and offerings, according to a press release sent by e- mail to PYMNTS.
Cardholders can earn rewards with their AT&T Access Card on AT&T-related purchases and other purchases, the release said. Users can earn 2x the ThankYou Points on products and services purchased from AT&T, as well as on every dollar spent on qualifying retail and travel purchases. Cardholders will also be able to access ThankYou reward points for gift cards, travel rewards, electronics and more.
“We have a long history of working closely with Citi to deliver innovative credit programs,†said AT & T’s vice president of intellectual property. Scott Frank in the output. “We look forward to the value this renewal will bring to our customers across the United States by rewarding them for their daily purchases and further fostering long-term loyalty. “
Rewards and loyalty are a crucial way to retain and attract customers, PYMNTS found in its November Cardholder Loyalty Engagement Report. This is especially true among specific demographics, as the report found that 32.7% of bridging millennials and 32% of people earning more than $ 100,000 are likely to switch financial institutions (FIs) for funding programs. loyalty and more attractive rewards.
Citi Head of US Branded Cards and Lending Pam habner said in the statement that the company looks forward to “continuing to work together to deepen and expand the partnership to deliver significant benefits and value to a digitally engaged consumer base.”
Citi renewed other partnerships, including one with Tractor supply company (TSC) for a decades-long credit card relationship that offers both a personal credit card and a business credit card. The agreement marked an ongoing commitment to the TSC credit card portfolio.
AT&T, meanwhile, has been working on introducing new capabilities like 5G – and what to do with it, PYMNTS reported. AT&T Director of the 5G Center of Excellence Jason inskeep said the negotiator comes in terms of how infrastructure creates experiences.
“It might not be flashy, maybe not super bright, but the customer experience is improving,†Inskeep told PYMNTS.
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NEW PYMNTS DATA: STUDY ON CRYPTOCURRENCY PAYMENTS – MAY 2021
About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to groceries. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use – and how merchant acceptance can influence merchant choice and consumer spending.