Citigroup to Issue Private-Label Credit Cards for Wawa

Citigroup has agreed to issue private-label credit cards for Wawa, a Mid-Atlantic convenience store chain.

Citigroup's Citi Retail Services will issue, manage and service the cards on behalf of Wawa. The cards will be available on Wednesday. Financial terms of the multiyear agreement were not disclosed.

The Wawa card will offer rewards on fuel purchases, the companies said, without providing details on the rewards program. About 400 Wawa locations sell fuel.

Based in Media, Pa., Wawa operates about 700 stores in Delaware, Florida, Maryland, New Jersey, Pennsylvania and Virginia.

Citi's retail services is a substantial component of the bank's overall business. For the first three quarters of 2014, it provided a quarter of the net income for all of Citi's global consumer banking business and third of the revenue of all of Citi's consumer banking business in North America.