ATLANTA--(BUSINESS WIRE)--Citi announced its U.S. retail credit card products and services division, formerly known as Retail Partner Cards, is being renamed Citi Retail Services.
The new name best represents the unit’s industry leading breadth of products and services, including private label credit cards, digital, mobile and loyalty solutions and market insights provided to national and regional partners. Citi Retail Services, which offers the largest retail co-brand and loyalty programs in the country, has been an industry leader for nearly three decades with a portfolio of partners that includes some of the largest and most respected retail, automotive, and fuel brands in the country.
“As a result of multiple partnership renewals, a strengthened and expanded leadership team and successful repositioning, the business is poised for profitable growth in the years ahead,” said Citi Retail Services CEO Bill Johnson. “This is the right time to unveil a new name that affirms our renewed focus, structure, capabilities and commitment to aggressively build profitable relationships with new and existing partners. Our current relationships, some of the longest standing in the industry, provide us with an unequaled foundation for growth and success.”
Beginning in January, Citi Retail Services will communicate its new name through partner communications, marketing materials, and the company's website.
As to why it is a particularly opportune time to rename the business, Johnson noted, “Over the past few years, the retail industry has changed significantly and so have we. Partnership to us is more than providing the best credit products and services. We focus on helping our partners grow sales by providing a broader suite of services and insights into customer behavior and competitive intelligence. Our goal is to be experts in our partners’ business. The Citi Retail Services name conveys the breadth of products, services, and insights we provide to drive sales, loyalty and value for new and existing partners and their customers.”
Over the past 18 months, Citi has renewed multiple contracts with longstanding partners and recently added Ford Motor Company to provide consumer financing for parts and service through 3,000 Ford dealerships across the country.
Citi Retail Services provides consumer and commercial credit card products, services, and retail solutions to national and regional retailers across the U.S. The business services nearly 90 million accounts for a number of iconic brands, including The Home Depot, Macy’s, Sears, Shell, and ExxonMobil, among others.
In October, Citi announced that Retail Partner Cards, now Citi Retail Services, will rejoin Citicorp effective January 1, 2012 as a business unit within North America Consumer Banking.
About Citi:
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.
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