New Delhi: Citibank India and the Delhi Metro Rail Corporation (DMRC) have announced the launch of India's first co-branded, '2-in-1' transit credit card, the Delhi Metro Citibank credit card.

The first of its kind in India, the card combines the benefits of a Metro smart card, with the advantages of a Citibank credit card, and is available to customers from today.

The new product is a pioneering initiative introduced by DMRC and Citibank India, to offer enhanced value and convenience to Delhi's residents. In addition to the features of a Citibank credit card and the existing Metro Smart card, the Delhi Metro Citibank Credit Card is unique in several other ways, in the sense that reward points accumulated on this card can be redeemed for free Metro rides, at the Citibank point-of-sale terminals, which are presently installed at Rajeev Chowk, Kashmere Gate, Barakhamba, Pitampura, Rajouri Garden and Dwarka Mor Metro Stations. These are scheduled to soon spread across other stations as well. Additionally, the card offers double reward points for Metro spending, and will not require the mandatory security deposit of Rs50.

Delhi now on par with New York
It is India's first credit card that doubles as a contact-less access card for the Delhi Metro stations, allowing customers "tap and go" entry into DMRC stations. In 2006, Citibank had conducted trials of the ''tap-and-go'' or contactless payment at select New York city subway stations, in association with MTA and MasterCard. Following the trials, the service was rolled out at the New York subway MTA. However, the DMRC co-brand card is associated with Visa.

In addition to convenience, the Delhi Metro Citibank Credit card will offer several benefits, including exclusive shopping deals and discounts in Delhi and the national capital region (NCR), fuel surcharge waivers at Indian Oil outlets and other privileges associated with a Citibank Credit Card.

The special "Delhi Delights" feature of this card offers unique deals from some of the biggest brands in Delhi, including Dominos, Fun Cinemas, Nirula's, Bercos, India Today and VLCC.

 "Citi has successfully launched similar products in New York and Singapore, both of which have been extremely well received. We expect to launch similar products in more countries in the next few months," said Surath Chatterjee, regional head of card products, Citi Asia Pacific

DMRC's director for operations Raj Kumar says, "DMRC is always looking to improve the transit customer's experience. We believe this product is the next step in providing our travellers unmatched convenience and reduced waiting times by combining an efficient payment mechanism with the Metro experience."

P S Jayakumar, country business manager, global consumer group, Citi India said, "As the Metro extends its operations further into Delhi and NCR, and with the forthcoming Commonwealth Games in 2010, the Delhi Metro Citibank credit card will fulfil the need of a world-class product for hassle free travel and shopping."

Special Privileges on the Delhi Metro Citibank Credit Card include:

• 10 per cent discount on travel fare paid with the '2-in-1' card
  
• 2 reward points for every Rs100 spent on the Metro, 1 reward point for every Rs100 spent elsewhere
  
• Facility for converting all reward points into Metro Points for free Metro rides (at the POS terminal itself)
  
• Associated with Visa international, accepted at over 14 million merchant outlets worldwide
  
• 2.5 per cent surcharge waiver on IOC petrol pumps
  
• Five free lifetime add-on cards
  
• The ''Delhi Delights'' offers from the best brands of Delhi

Presently, 0.65 million commuters travel daily on the Metro rail, which is slated to reach two million by 2010 once the network expands to cover South Delhi and the NCR.