An advertisement for the ride-hailing application Grab displayed at a taxi stand in Singapore
Ore Huiying | Bloomberg | Getty Images
Citigroup has been working on a tie-up with Singapore-based ride-hailing app Grab to allow its credit-card customers to pay for rides with points, the Financial Times reported.
In its first attempt at tying up with a transportation service, the U.S.-based bank was aiming to tap customer networks and reduce customer-acquisition costs, the report said.
The partnership with Grab, which operates in six Southeast Asian countries, was set to be launched in September, the report said.