Omise, the Asia based payment platform, and creators of the OmiseGo blockchain network, announced late last week a partnership with Citibank Thailand to launch “Pay with Points” as a new payment option to e-commerce businesses across Thailand.
This initiative aims to help broaden consumer payment choices by enabling Citi cardholders to use Citi Rewards points to pay for their purchases when shopping online at thousands of Omise merchant stores.
Pay with Points will allow e-commerce businesses to accept payments through the instant redemption of credit card reward points, making Omise the first payment gateway in Thailand to offer this service.
This partnership will allow both companies to benefit from each other’s respective strengths. The new point redemption payment acceptance will contribute to providing merchants with more channels to accept payments without handling cash or credit. It will also add another payment option for Citi credit cardholders to have more platforms in various business categories to redeem their outstanding Citi rewards points.
“Omise provides an API that allows Pay with Points to be quickly integrated into any e-commerce store; creating a seamless connection for both the merchant and cardholders. Pay with Points on Omise removes the burden of the usual rewards program by allowing cardholders to make instant redemption at the moment of transaction. This eliminates the need for businesses to issue coupon codes or cash rebates. Consumers today enjoy personalized, relevant, and seamless payment options that give them full control and flexibility over the way they use their loyalty points. This is a great opportunity for merchants who want to ride the digital wave.”
– Visit Yindisiriwong, Country Manager at Omise (Thailand)
Both Omise and Citibank believe that this new feature will help bridge the connection between 1 million Citi cardholders with thousands of Omise merchants and will contribute to a high potential for revenue among Thai ecommerce merchants.
“A partnership with Omise will help enhance the customer experience on the rewards points conversion journey. While Citi continues to focus on customer needs and offer alternative ways to convert rewards points through a new digital channel, Citi cardholders can now further use their points to spend on online shopping and experience premium services from Omise’s authorized partners with a seamless process.
– Warote Nguitragool, Cards Customer Experience and Loyalty Rewards Head, Citi Thailand