Citi and Best Buy Launch Mobile Rewards App

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Citi and Best Buy have teamed up to launch a mobile rewards application for iPhone and Android devices. The “Citi ThankYou Rewards” app ties together Best Buy’s inventory systems with Citi’s “ThankYou” Rewards program, a service which allows Citi customers to earn points by using their Citi credit card or performing other banking-related activities.

Now, Citi customers can use the new mobile app to track their rewards points in real time, keep an eye on items they want to buy, and then pay for those items using their earned points.

The free application was built through a collaboration between the two companies, one a major financial institution and the other a leading retailer. As a customer shops in a Best Buy retail store, they can scan the barcodes of the merchandise they want to purchase. The app will display how many points are needed for each item.

And when the customer is ready to checkout, those items are placed in a virtual cart within the app to complete the process. A confirmation email is sent to the customer’s registered Citi ThankYou Rewards email account, directing them to the in-store pickup counter at Best Buy to get their merchandise.

The application also allows users to shop the Best Buy ThankYou Rewards catalog and schedule items for in-store pickup at the location of their choice or have them sent to their home address.

In addition, the mobile app lets Citi ThankYou Rewards members shop for other merchandise in the Rewards catalog not sold through Best Buy. Those items would be shipped directly to your home.

Says Ralph Andretta, EVP of Loyalty and New Products at Citi, there are millions of redemptions available via the ThankYou Rewards program outside of Best Buy, but Citi was excited to partner with the retailer which it sees as an innovative company like itself. This app demonstrates what Citi wants to be, Andretta says: “the best digital bank in the world.”

More details regarding this announcement are available at this morning’s webcast, going on now at www.liveatbestbuy.com/livestream.