Citi Retail Services and Volkswagen of America, Inc. Launch After-Sales Credit Card Program in the U.S.

ATLANTA, Sept. 16, 2014 /PRNewswire/ -- Citi Retail Services today announced a multi-year agreement for the Volkswagen After-Sales Credit Card Program in the United States. This program will provide a credit option to qualified Volkswagen owners/lessees for their parts, accessories, service, and maintenance needs while giving eligible dealers an opportunity to deepen their relationships with these customers. Cardholder benefits include competitive offers, rewards and exclusives.

"We are excited to offer Volkswagen of America Parts & Service customers this new financing option through our dealer network. This credit card will be a tool for our dealers to become even more competitive and offer their customers convenience, cardholder-exclusives and more," said Don Stephenson, Vice President, After Sales, Volkswagen of America, Inc. "Citi Retail Services is an expert in private label consumer financing and we have confidence in its ability to provide a premium financial product to customers."

"Volkswagen stands among the world's most recognized brands, and we are proud to welcome them to our family," said Citi Retail Services' Craig Vallorano, Managing Director for Business Development and Strategy. "This agreement solidifies Citi Retail Services' position as a leader in auto aftermarket service financing."

The program will begin rolling out in October to almost 400 independent U.S. Volkswagen dealerships participating in the Volkswagen Service Xpress program. The roll-out is expected to be completed by early 2015. Cards will first be available to customers later in the fourth quarter.

"Volkswagen is one of the most innovative marketers in the automotive industry," Citi's Vallorano said, "and we're looking forward to working with its dealer service network to help them grow their customer base. One of our strengths as a credit service and solutions provider is working with independent dealers. I would say we are 'on the road' to a very successful relationship."

Citi Retail Services, a unit of Citi, provides consumer and commercial credit card products, both private label and co-branded, to national and regional retailers and their customers across the U.S. The business services millions of accounts for a number of iconic brands. It also provides retail industry expertise, including transaction data analytics, and fully integrated marketing and loyalty programs.

About Citi

Citi, the leading global bank, 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.

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Citigroup Inc. (NYSE: C)

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