Citi Retail ServicesAn example of Financial Services Industry Solution
Running an Industry Leading Retail Network for Major Global OEM
- THE COMPANY
- With a dealer network of nearly 2,000 independent dealerships and over 2,500 locations, Citi Retail Services’ private label card for a heavy equipment manufacturer consists of 450,000 issued cards and a lending portfolio of approximately $4.0B.
- THE CHALLENGE
- Citi Retail Services wanted to enhance their promotional program by allowing highly customized offers with a centralized promotion management system. They needed to provide dealers with state-of-the-art sales reporting and secure integration of credit card payments with dealer management system partners.
- THE SOLUTION
- The platform launched in November 2009, and in just under 4 years, processed $7B in payments from 500,000 card members. The PCI-compliant secure system supported 15 POS systems plus eCommerce at 2,500 retail locations across North America, including multi-lingual and multi-currency transactions. The FreedomPay Incentives Manager enabled over 1.3 million line-items to be eligible for real-time financial incentives, delivering timely and relevant offers to private card members.
The FreedomPay Commerce Platform creates the opportunity for the manufacturer to engage with customers and make relevant offers at the point of sale to up-sell supplies and maintenance products that are available at many other outlets.