Partnerships between technology giants and financial institutions usually come as a surprise. Citi, well-known for its position in the banking sector, partnered with Airbnb for an Asian venture. In doing so, Citi cardholders will enjoy a more authentic travel experience. It is also the first time a bank is officially collaborating with Airbnb for such a venture.
A Big Move for Airbnb During Asian Expansion
Many people are familiar with Airbnb, as it is a modern marketplace to list and find accommodations anywhere around the world. Rather than booking a boring hotel, people can forge a connection in the city of their choice with people who know the area far better than most hotel staffers.
Even though Airbnb has been a very successful company so far, a significant partnership has eluded them. That is not a bad thing, as it has not hindered the company’s growth by any means. Now that Citi is partnering with the enterprise, things are looking quite good for Airbnb as a whole. More importantly, this partnership focuses on Asia, a very important company for both finance and technology players.
Citi card holders will receive a S$50 discount on their first booking through the Airbnb platform, assuming they spend at least S$250 during the booking process itself. All that cardholders need to do is visit the dedicated website and enter the promo code “CITISG” during checkout–a quick and convenient way to explore the platform with a discount.
While this partnership was initially launched in Singapore, the offering will expand to other Asian countries in the coming weeks. Confirmed locations include Australia, Thailand, and The Philippines, among others. Every region will have their dedicated signup page and promo code, offering a similar discount to residents.
Citi Head of Asia-Pacific Consumer Banking, Anand Selva, stated:
“Our strategy in consumer banking is to be the world’s leading digital bank, which includes delivering a remarkable client experience in key digital ecosystems. We have seen that the rapid adoption of mobile and other digital channels has truly transformed how people book their accommodation for business or leisure, and we are delighted to partner with Airbnb in Asia. Through this partnership, Citi will further drive growth in our cards business via new acquisitions and increased customer loyalty.”
Citi has been forging various partnerships with technology players throughout 2016. A few months ago a strategic alliance was announced with AliPay and Wechat. Additionally, there is a working relationship with Line, the popular social messaging platform’s parent company. Partnering with Airbnb is quite exciting, and it paints a positive future for the community marketplace.
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