Citi teams with Best Buy for ThankYou Rewards mobile loyalty program

Financial services giant Citi and big-box retailer Best Buy are rolling out ThankYou Rewards, a mobile loyalty program optimized for Apple's (NASDAQ:AAPL) iPhone and iPod touch, as well as devices running Google's (NASDAQ:GOOG) Android operating system. The free application expands Citi's existing ThankYou effort, which awards points to consumers for using their Citi credit card or conducting other banking-related activities.

After downloading the ThankYou Rewards app, smartphone users can search and browse Citi's Rewards catalog, which features a selection of Best Buy products along with other premiums; consumers can redeem their points at their local Best Buy or remotely, either by scanning barcodes on product packaging at the store, typing in the UPC code or searching by item name. Products are available for pickup within minutes, or users can have items shipped anywhere in the continental U.S. ThankYou members who opt for in-store pickup may also enjoy additional discounts.

The ThankYou Rewards app follows roughly a year after Citi introduced Citi Shopper, a location-based mobile app promising consumers nearby offers and deals, price comparisons and maps to area retailers. Powered by GPShopper's Slifter technology, Citi Shopper scours inventory information spanning 2 billion items across more than 1,000 retailers to find the best bargains in the user's vicinity, identifying where a product is available and offering instructions on how to get there. The app also reminds Citi cardholders of offers, rewards and benefits specific to their accounts.

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