Citi is the latest in Asia to tap into the digital commerce channel amidst the coronavirus pandemic, partnering with major Hong Kong e-shopping platform HKTVmall.
Citi Hong Kong’s partnership with the renowned HKTVmall will include a specialized credit card that leverages API technology to enable instant application and approval. The «Citi HKTVmall Credit Card» also provides other benefits such as discounts and additional points on specific days of the week, according to a Citi statement.
The partnership is timely as HKTVmall has emerged as a major player for homebound Hong Kongers who use the platform to purchase daily necessities. The firm estimates that it has registered $155 million worth of orders in the first quarrier – double of last year – and is set to witness even more demand as it recently announced a decision to start selling surgical masks on the platform as well.
«Citi Hong Kong has long collaborated with HKTVmall to enhance customers' spending experience through Open API,» said Lawrence Li, Citibank Hong Kong’s head of cards and unsecured lending, adding that the latest move furthers the development of «smart banking».
Digital Booster
Citi is the latest player to leverage digital capabilities to capitalize on the scarce number of potential opportunities available in the struggling economy. Last week, DBS launched a new offering to support F&B businesses by launching a homegrown platform that will enable online ordering and delivery for its SME clients.
«The retail industry in Hong Kong is facing unprecedented challenge at the moment. With the changes in the social environment and technological advancement, Hong Kong consumers are now shifting their consumption habits to online shopping,» said Ricky Wong, CEO of HKTV.
«While it is all about total customer experience for online shopping, every single detail in marketing and promotion, payment and delivery that counts.»
