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Citigroup aims for tie-up with Singapore ride-hailing app Grab: FT

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.

You can read the full Financial Times article here.

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