Two-in-one credit card introduced by Citibank

Citibank made a statement that it was teaming up with Octopus Cards Limited (OCL) to conjointly introduce in Hong Kong a new co-brand card - Octopus Citibank Credit Card. With new Octopus function customers are able to implement fast and convenient small-value payments at over 50,000 points of presence in both retail and transport while the credit card enables high-ticket purchases at an extensive network of merchants around the world.

Usual Octopus card is very essential for Hong Kong citizens of all ages and occupations. Minimum deposit for each card is HK$50 and users may recharge their cards with HK$50 or HK$100 many times at MTR stations and 24-hours convenient stores.

The new Octopus Citibank Credit Card will have an automatic reload option for Octopus as a default feature and HK$50 deposit for Octopus will be eliminated. In addition customers using the new card can earn cash rebates and the rebates will be credited for their Octopus usage.

"This co-brand card puts the two of us at the forefront of the e-money market and we are very confident that the Card will be well received by the market as it is a unique transport-retail payment card that allows customers to manage all their needs," said Neil Gardner, Director of Cards Business of Citibank Global Consumer Group.

"For the first time, customers can enjoy a two-in-one card with unprecedented convenience and benefits. We look forward to a fruitful partnership with Citibank, ultimately delivering a new kind of customer experience to the community," said Prudence Chan, Chief Executive Officer of Octopus Cards Limited.