In a case of social media for social good, Citibank in the US has introduced a new Facebook application which allow customers to pool credit card reward points to donate money to charity or buy a group gift.
In what the bank is calling an industry first, the app builds on a service which allows customers to transfer points to one another on the bank’s homepage. Now the capability will be offered through social media.
Citibank’s head of loyalty programs and co-branded cards Ralph Andretta said customers have far more flexibility with their points, whether it’s to help a friend fly home from college or team up for a big-ticket reward.
Customers can then start a rewards pool by naming a recipient and explaining its purpose. The recipient of the points maintains control of any contributions, so it’s best if you know and trust that person.
Pool recipients must be individuals and cannot be an organisation, even if the intended goal is a charitable donation.
Users can promote their goals by sharing links on their Facebook pages or privately inviting other Citi customers to contribute. Donors can see the total number of points a cause has amassed.