Direct Redemption of Citi Credit Card Points for AlipayHK Coupons

Enjoy Reward up to HK$180 for Paying Bills with AlipayHK

HONG KONG, CHINA - Media OutReach - 19 December 2019 - Citibank and AlipayHK announced today the launch of a points conversion program enabled by Open API technology. Under the program, customers with an AlipayHK e-wallet can redeem AlipayHK Coupons with points earned through Citi credit card. The coupons are accepted by all AlipayHK partner merchants at their physical stores and can be used for bill payment and other services made through the AlipayHK App.

Points conversion has never been more convenient or faster. By linking a designated Citi credit card to their AlipayHK account and authorizing the Citi Points conversion program, customers can check the balance of Citi Points on the related page in the AlipayHK App and use such Citi Points instantly to redeem for AlipayHK Coupons in order to enjoy discounts. With AlipayHK covering a growing number of local partner merchants and bill payment services, Citi credit cardholders will find this Citi Points conversion program even more handy and rewarding.

Simply follow the steps below for Citi Points conversion:

1. Login to the AlipayHK App and link a designated Citi credit card to your account¹;

2. Authorize the Citi Points conversion program and enter the mobile phone number registered with Citibank to obtain a one-time password for one-off identity verification;

3. Select the number of AlipayHK Coupons to be redeemed;

4. After redemption, you will receive a confirmation notice and can use the AlipayHK Coupons instantly.

The minimum aggregate value of AlipayHK Coupons that can be converted under each redemption is HK$100 and the maximum aggregate value of AlipayHK Coupons that can be converted by the same AlipayHK account per day is HK$1,000. The face value of each AlipayHK Coupon is either HK$50 or HK$20. It can be used at AlipayHK's partner merchants' physical stores, for AlipayHK's bill payment and other services when customers make a single net spending at or exceeding HK$51 or HK$21 respectively with AlipayHK e-wallet.

Lawrence Li, Head of Cards and Unsecured Lending at Citibank Hong Kong, said, "Since Citibank became the first bank in Hong Kong to make available APIs for the developer community in 2017, we have been working with different business partners to build a comprehensive digital ecosystem that fits our customers' daily lives. Through the application of Open API technology, we are pleased to partner with AlipayHK to enhance customer experiences in electronic payment and credit card points conversion, providing a flexible way to spend and pay in line with the preference of the local consumers."

Ms. Jennifer Tan, Chief Executive Officer of Alipay Payment Services (HK) Limited (APSHK), said, "We are pleased to work with Citibank on API project to provide AlipayHK users with more diversified and personalized consumption means in order to enrich the one-stop lifestyle platform. In future, we will continue to explore other possibilities of Open API for users."

Exclusive offer for Citi credit cardholders: Up to HK$180 reward for bill payment with AlipayHK

In addition to using Citi Points to redeem for AlipayHK Coupons, Citibank customers can also be rewarded with AlipayHK Coupons worth up to HK$180 when they pay bills through with a designated credit card² linked to their AlipayHK e-wallet from now until January 31, 2020. Details as follows:

Reward 1 -- Receive up to HK$80 worth of AlipayHK Coupons through bill payment

• First-time bill payment users³ will receive a HK$80 AlipayHK Coupon⁴ when they pay a bill with a designated Citi credit card² through the AlipayHK e-wallet. The HK$80 AlipayHK Coupon received can be used for a single net bill payment of HK$160 or above through the AlipayHK e-wallet.
• Users with a previous record of bill payment through AlipayHK will receive a HK$40 AlipayHK Coupon⁴ when they make a bill payment with a designated Citi credit card² during the promotion period. The HK$40 AlipayHK Coupon can be used for a single net bill payment of HK$80 or above through the AlipayHK e-wallet.

Reward 2 -- Receive HK$100 worth of AlipayHK Coupons from designated merchants

• Users with designated Citi credit cards² will receive two additional HK$50 AlipayHK Coupons⁶ by paying the selected electricity charges or telephone fees⁵ with their designated Citi credit cards. To use such AlipayHK Coupons, users must activate and authorize the Auto-Debit service in AlipayHK e-wallet for the first time and select a designated Citibank credit card as payment source. Thereafter, the AlipayHK Coupons can be used to settle a single net autopay transaction of HK$100 or more through the AlipayHK e-wallet. ⁷

Please visit the website citibank.hk/alipayhk for information about the Citi Points conversion program.

Please visit citibank.hk/alipayhk for more details about the offer and other terms and conditions.

Notes:

1 Only applicable to Principal Cardholders of Citi Ultima Card, Citi Prestige Card, Citi PremierMiles Card, Citi Rewards Card (except Citi Rewards UnionPay Card), Citi Gold Card and Citi Classic Card issued by Citibank (Hong Kong) Limited.

2 The promotion only applies to holders of Citi Credit Cards (except Citi Cash Back American Express® Card and Citi Rewards UnionPay Card) issued by Citibank Limited who are also AlipayHK users. Citibank will use the records it maintains to determine whether customers are eligible to participate in the promotion and verify any spending transactions.

3 Only applicable to Citibank customers who have never used bill payment services provided by AlipayHK.

4 The AlipayHK Coupon will be credited to the customer's AlipayHK App account within two working days after the bill has been successfully paid. The AlipayHK Coupon for bill payment is valid for 90 days.

5 Only applicable to settlement of bills to merchants by autopay. Merchants accepting automatic payment include CLP Power, Hongkong Electric, and 3 Hong Kong. The merchant list will be updated regularly. Please visit https://render.alipay.hk/p/c/citibank for the latest information.

6 The AlipayHK Coupon will be credited to the customer's AlipayHK App account within two working days after the bill has been successfully paid (The AlipayHK Coupon for customers who have successfully paid the bill before December 24, 2019 will be credited to their AlipayHK App account by December 27). The AlipayHK Coupon for automatic payment is valid for 150 days.

7 Reward 2 is only applicable to customers who have never successfully activated the automatic payment service and who pay bills during the promotion period to merchants accepting automatic payment (including CLP Power, Hongkong Electric and 3 Hong Kong). Only one AlipayHK Coupon can be used per transaction.

About Citi

Citi, theleading global bank, has approximately 200 million customer accounts and does businessin more than 160 countries and jurisdictions. Citi provides consumers,corporations, governments and institutions with a broad range of financialproducts and services, including consumer banking and credit, corporate andinvestment banking, securities brokerage, transaction services and wealthmanagement.

Additionalinformation may be found at www.citigroup.com | Twitter: @Citi | YouTube:

www.youtube.com/citi| Blog: https://blog.citigroup.com | Facebook: www.facebook.com/citi |

LinkedIn:www.linkedin.com/company/citi.

About AlipayHK

Theelectronic wallet is operated by Alipay Financial Services (HK) Limited andsupervised by the Hong Kong Monetary Authority. Alipay Payment Services (HK)Limited (APSHK) is a joint venture established and managed by the CK HutchisonHoldings Limited, a multinational conglomerate spanning over 50 countries andAnt Financial Services Group, a leading global technology and financialservices company and parent company of "Alipay". For more details, pleasebrowse AlipayHK's website at www.alipayhk.com.

Currently,over 50,000 local retail outlets have supported electronic wallet for payment,covering large chain stores, convenient stores, drugstores, supermarkets, wetmarkets, taxies, restaurants and others. Features of electronic wallet includepayment on Taobao and TMall, P2P transfer, remittance, electricity payment,telecom payment, entry tickets and F&B vouchers for The Racecourse,purchase of insurance products offered by third party, e-coupons, etc, makingHong Kong residents' lives more convenient by integrating mobile payment intodaily lives.