Press release from Business Wire India
Source: Citi
Wednesday, December 17, 2008 04:21 PM IST (10:51 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services
Release no: 18760
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Citibank Launches Card Protection Plan
Protects Cardholders Against Misuse of Lost Card
New Delhi, Delhi, India, Wednesday, December 17, 2008 -- (Business Wire India) -- Citibank N.A. today announced the launch of a credit card benefit that protects against any misuse due to lost/stolen card. Amongst other benefits, it safeguards and protects them against card loss, theft and resultant fraud. Launched in partnership with CPP Assistance Services Pvt. Ltd. (CPP), a global leader in assistance services marketing, this service is extremely convenient as it protects the cardholder's entire wallet of cards, credit and debit, including those of other issuers, and even non-financial ones such as store, loyalty and membership cards. Further, the cardholder is protected from any fraudulent use that may have occurred seven days prior to discovery and within 24 hours of notification of card loss.
Additionally, the CPP Card Protection offers benefits such as a single number to call to cancel all lost cards, replacement assistance, emergency travel and hotel assistance in India and overseas due to card loss, valuable document registration and retrieval, reminder services and access to a 24 Hour toll-free CPP helpline.
Cardholders can choose from a set of distinct plans, depending on their lifestyle and spend behaviour. Depending on the Plan selected, customers can be covered for fraud loss on their cards upto Rs.1 lakh prior and Rs.20 lakhs post notification; overseas emergency assistance for payment of hotel expenses of upto Rs.1.2 lakhs and Rs.60,000 in India; and replacement travel ticket advance of Rs.1.2 lakhs while overseas and Rs.60,000 whilst in India. The annual fee applicable is Rs. 995 for the Classic plan and Rs.1295 for the Premium plan. Citibank Cardholders can now enrol themselves for CPP Card Protection membership by calling the Bank's 24X7 customer service channel CitiPhone in their city.
Launching CPP Card Protection, Sandeep Bhalla, Business Manager, Cards, Citibank India, said, "We are delighted to be among the pioneers to introduce the CPP facility to our cardholders and address an important security feature to their current cards. Losing one's wallet can be devastating, especially if its contents are stolen and abused. With this protection offer, consumers can now travel and use their cards with a peace of mind, anytime and anywhere knowing that their card is protected. Also, regulators have strongly recommended banks to introduce a cover to take care of the liabilities arising out of lost cards, and Citicards has provided such a solution to our customer base".
In addition to providing Citibank cardholders protection against fraudulent usage of their cards at home or overseas, CPP Card Protection also serves as a repository of valuable personal information such as passport details, driving license number, share certificates, insurance policies and other such important documents. Once these are registered with CPP, cardholders need only to make a single phone call to retrieve these instantly.
Speaking on the occasion, Gagan Maini, CEO, CPP Assistance Service Pvt. Ltd. said: "We are very delighted to extend our partnership with Citibank across other international markets by now providing Card Protection Plan to Citibank Cardholders in India. Our unique product proposition addresses a very relevant need of the Indian consumer. In times of distress arising out of card loss, we play the role of a friend to the cardholders helping them take care of their worries! With an experience of over 25 years in servicing millions of customers worldwide, we believe our product will fulfil a key requirement of the Indian cardholder. We look forward to Citibank cardholders take advantage of CPP's Card Protection Plan."
About CPP
CPP Group Plc is a global market leader in the assistance services market with over 10 million satisfied customers, 280 business partners and 1700 employees. It is present across Europe, America and Asia, providing market leading products and services to its partners and their customers.
A part of CPP Group Plc, CPP India provides assistance products that enable its customers to cope with anxieties associated with the challenges of modern life. With the growth in the use or plastic cards, the need for services that remove complexity, deliver support in difficult situations and provide reassurance, has also increased.
To cater to this need in India, CPP has launched its flagship card protection in partnership with leading card issuers. CPP Card Protection is a comprehensive service that alleviates anxieties arising out of card loss, theft and resultant fraud, helping people live life and worry less!
About Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com
CONTACT DETAILS
Indu Aishwerya Anand, Citi, +91 (0124) 418 6776, indu.anand@citi.com
Sudeep Bhalla, Citi, +91 (022) 4001 5009, sudeep.bhalla@citi.com
Pooja Ahluwalia, Citi, pooja.ahluwalia@citi.com
Shreela Roy, IPAN, +91 9820149119, shreela.roy@ipan.com
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES
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