ATLANTA, Sept. 16, 2014
/PRNewswire/ -- Citi Retail Services today announced a
multi-year agreement for the Volkswagen After-Sales Credit Card
Program in the United States. This
program will provide a credit option to qualified Volkswagen
owners/lessees for their parts, accessories, service, and
maintenance needs while giving eligible dealers an opportunity to
deepen their relationships with these customers. Cardholder
benefits include competitive offers, rewards and exclusives.
"We are excited to offer Volkswagen of America Parts &
Service customers this new financing option through our dealer
network. This credit card will be a tool for our dealers to become
even more competitive and offer their customers convenience,
cardholder-exclusives and more," said Don
Stephenson, Vice President, After Sales, Volkswagen of
America, Inc. "Citi Retail Services is an expert in private label
consumer financing and we have confidence in its ability to provide
a premium financial product to customers."
"Volkswagen stands among the world's most recognized brands, and
we are proud to welcome them to our family," said Citi Retail
Services' Craig Vallorano, Managing
Director for Business Development and Strategy. "This agreement
solidifies Citi Retail Services' position as a leader in auto
aftermarket service financing."
The program will begin rolling out in October to almost 400
independent U.S. Volkswagen dealerships participating in the
Volkswagen Service Xpress program. The roll-out is expected to be
completed by early 2015. Cards will first be available to customers
later in the fourth quarter.
"Volkswagen is one of the most innovative marketers in the
automotive industry," Citi's Vallorano said, "and we're looking
forward to working with its dealer service network to help them
grow their customer base. One of our strengths as a credit service
and solutions provider is working with independent dealers. I would
say we are 'on the road' to a very successful relationship."
Citi Retail Services, a unit of Citi, provides consumer and
commercial credit card products, both private label and co-branded,
to national and regional retailers and their customers across the
U.S. The business services millions of accounts for a number of
iconic brands. It also provides retail industry expertise,
including transaction data analytics, and fully integrated
marketing and loyalty programs.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
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www.linkedin.com/company/citi
Citigroup Inc. (NYSE: C)
Media Contact:
Janis Tarter, (415) 658-4256,
janis.tarter@citi.com
SOURCE Citigroup Inc.