Maruti partners with CitiBank, IOC to launch co-branded credit card

Maruti partners with CitiBank, IOC to launch co-branded credit card

Author | exchange4media News Service | Friday, Apr 21,2006 7:58 AM

Maruti partners with CitiBank, IOC to launch co-branded credit card

Maruti Udyog Ltd has rolled out a ‘Loyalty cum Rewards Programme’ for its existing and new customers through the launch of a co-branded credit card in partnership with CitiBank and Indian Oil Corporation.

Maruti car owners can easily earn as many as 20,000 Autopoints in four years. One Autopoint is valued at Re 1. These 20,000 Autopoints can be used for additional discounts by the customer while purchasing the next Maruti Suzuki car.

Alternatively, the accumulated points can be instantly redeemed by customers when they get their car serviced at Maruti Suzuki workshops or while purchasing a Maruti genuine accessory worth equivalent amount. The programme has been initially launched in 36 cities.

The programme rewards Maruti Suzuki car owners for all their spends at Maruti outlets, IndianOil fuel outlets and for lifestyle spend as the Maruti Suzuki Autocard can be used as an international credit card.

The customer has the option to carry over the points for redemption against exchange (trade-in) of his car for a new Maruti Suzuki car. In addition to autopoints earned by customers, Maruti and its dealers will provide attractive exchange loyalty bonus based on regular servicing and age of car at the time of exchange.

Speaking on the occasion, Jagdish Khattar, Managing Director, Maruti Udyog Ltd, said, “Maruti’s loyalty and rewards programme is designed to genuinely benefit our customers. They can earn and redeem points conveniently from their normal car-related and lifestyle spends, and be rewarded handsomely when they buy their next Maruti Suzuki car. We are delighted to be associated with IndianOil and CitiBank, both leaders in their respective domain, in this programme.”

Sarthak Behuria, Chairman, IndianOil, said, “We are glad to be the fuel partner to Maruti’s Autocard programme. Our long association with Maruti has been continuously enriched by the mutual value addition that we have pursued, whether it is in fuels or lubricants. With the other partner, CitiBank, we have had the unique distinction of being one of the pioneers of co-brand credit cards in the country.”

“At present, the IndianOil-CitiBank credit card is one of the largest co-brand credit cards in India. Ultimately, our endeavour is to keep looking at newer and more innovative ways to reach out to customers. In the marketplace, half the battle is won when you have the right coalition,” Behuria added.

P S Jayakumar, Country Business Manager, Global Consumer Group, Citigroup India said, “The Maruti loyalty programme truly places the customer at the centrestage, making the car owner’s relationship with Maruti deeper, more meaningful and longstanding.”

With a strong customer base of over 4.5 million, Maruti hopes to enrol over one million customers. Maruti is setting up a Partner Relationship Cell, as it expects many more partners to join the Loyalty cum Reward Programme. This will help Maruti to offer even more benefits to its customers.

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