Citi Retail Services Extends Long-Term Consumer And Commercial Credit Relationship With Office Depot, Inc.

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Mar 19, 2015, 09:00 ET

ATLANTA, March 19, 2015 /PRNewswire/ -- Citi Retail Services today announced a long-term agreement with Office Depot, Inc. to extend the companies' 25-year consumer and commercial credit relationship and to consolidate the Office Depot and OfficeMax credit agreements into one program.

Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of office products, services, and solutions. Citi Retail Services, one of North America's largest and most experienced private label card issuers, previously provided credit solutions to both retailers prior to the integration.

Under the agreement, Citi Retail Services will continue to provide processing services and customer service support for all of Office Depot's consumer and commercial private label credit card programs. The credit cards can be used for purchases at Office Depot and OfficeMax retail stores, on officedepot.com, and through its catalog. Cardholders benefit from no annual fee, a dedicated line of credit for office supplies and services, and online account management. Commercial credit cardholders benefit from detailed purchase tracking, which simplifies expense management and expedites reorders.

"Our agreement with Citi aligns with our efforts to capitalize on merger synergies and integrate the credit card solutions for consumers and businesses across the Office Depot and OfficeMax brands," said Richard Leland, Treasurer and Vice President for Office Depot, Inc. "Citi has been a valued partner for more than two decades and we look forward to continuing to offer their credit cards to our customers."

"Our strong relationships with both Office Depot and OfficeMax thrive because of our mutual commitment to customer satisfaction," said Craig Vallorano, Citi Retail Services' Managing Director for Business Development and Strategy. "We are thrilled to continue to work with Office Depot to provide its customers with flexible payment options and top-tier customer service."

Citi Retail Services provides consumer and commercial credit card products, both private label and co-branded, to national and regional retailers and their customers across the U.S. It also provides retail industry expertise, including transaction data analytics, and fully integrated marketing and loyalty programs. The business services nearly 90 million accounts for a number of iconic brands, including The Home Depot, Best Buy, ExxonMobil, Macy's, Sears and Shell.

About Citi
Citi (NYSE: C), the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.

Media Contact:
Citi: Janis Tarter, (415) 658-4256, [email protected]

SOURCE Citi