HONG KONG, CHINA--(Marketwired - Jul 12, 2017) - Citigroup Inc. (NYSE: C) - Citi and The Kowloon Motor Bus Company (1933) Limited ("KMB") jointly announced today a first-of-its-kind partnership, which enables Citi Octopus Platinum Cardholders to earn a year-round 10% bus fare rebate whenever they pay for KMB and Long Win Bus Company Limited ("LWB") bus rides using the Citi Octopus Platinum Card. The exclusive offer is applicable to all KMB and LWB bus routes, offering Citi Octopus Platinum Cardholders the chance to earn as much as HK$300 worth of Octopus Cash Rebate a month.

The strategic partnership with KMB marks another milestone that reinforces Citi's commitment to enabling cardholders to get the most value out of their daily credit card spending.

"At Citi, we are committed to bringing cardholders the most value through innovative products and services. We are excited about taking this commitment to the next level through our partnership with the largest bus company and one of the most respected household brands in Hong Kong," said Lum Choong Yu, Head of Cards and Unsecured Lending for Citibank Hong Kong.

"We revolutionized the payment card industry when we launched the Citi Octopus Credit Card in 2008. For the first time, Hongkongers were able to conveniently pay for daily commutes and everyday purchases at over 50,000 Octopus retail and transportation points with the Citi Octopus Credit Card while enjoying all the credit card benefits on the same card. Through our exclusive partnership with KMB, getting around Hong Kong by bus will now be even more rewarding for Citi Octopus Platinum Cardholders," Lum added.

"KMB has a history of innovation in providing passengers with safe, economical and convenient services. We are glad that Citibank shares our vision and is introducing this novel year-long fare rebate programme. I am confident that this exclusive initiative partnership will bring benefits to even more passengers," said William Ho, Finance Director of KMB.

A pioneering product launched nearly a decade ago, Citi Octopus Credit Card is the first credit card with a built-in Octopus function to ever be introduced in Hong Kong. With the automatic top-up feature and ability to earn cash back on everyday purchases, Citi Octopus Credit Card quickly established itself as an indispensable part of Hongkongers' daily lives and remains one of the most popular co-brand credit cards in Hong Kong.

The 10% KMB and LWB bus fare rebate will be in the form of Octopus Cash Rebate and used for offsetting Octopus Automatic Add Value Service (AAVS) transactions. The ongoing Citi Octopus Credit Card benefit of earning HK$1 Octopus Cash Rebate for every HK$200 spending will continue to apply. Thus, Citi Octopus Platinum Cardholders will be able to earn an extra 10% Octopus Cash Rebate from KMB and LWB bus transactions between now and June 30, 2018.