Citigroup (C) Extends Partnership with SMRT

Citigroup Inc. (NYSE:C) is one of the Most Undervalued S&P 500 Stocks to Buy Right Now. On September 3, Citigroup Inc. (NYSE:C) announced that it has extended its partnership with SMRT as both companies mark 20 years of working together.

The joint effort began in 2006 with the launch of the Citi SMRT Credit Card, which was Singapore’s first to combine transit fare payments with credit card benefits. The card quickly became popular as it offered cashback on transport, groceries, and online shopping.

The partnership aims to make commuting in Singapore easier and more rewarding. Management of Citigroup Inc. (NYSE:C) noted that the public transport in Singapore increasingly uses credit cards for payments. Moreover, digital transactions via digital wallets linked to the Citi SMRT Card grew sevenfold from 2019 to 2024.

With the renewal, both companies have launched new benefits, and now new card benefits include a limited-time offer of up to S$400 cashback, 5% savings on spending in Malaysian Ringgit, and 20-cent food treats starting September 19.

Citigroup Inc. (NYSE:C) is a global financial services company that offers a wide range of banking, investment, and wealth management services.

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Disclosure: None. This article is originally published at Insider Monkey.