Wednesday, September 30, 2020

Citi, Lazada issue co-branded credit card

Oct 31. 2019
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By THE NATION

Citi, the largest pan-regional credit issuer, and Lazada Group, Southeast Asia's leading e-commerce platform, have announced the launch of Citi Lazada credit card.

Launched on Thursday (October 31), the first eCommerce co-branded credit card in the region is part of a drive to attract digitally-savvy customers who enjoy online shopping.

The launch marks the first time Citi has teamed up with an e-commerce company to introduce a co-branded credit card catering specifically to online shoppers in Thailand. This is the second market where the card is available in Southeast Asia, after its debut in Malaysia earlier this month.

The co-brand credit card, which offers 10X Citi Rewards Points on Lazada purchases, is an extension of Citi and Lazada’s regional partnership which dates back to 2016.

Citi said the tie-up is in line with its strategy to drive growth and consolidate customer base through digital marketing-led initiatives including collaborations and partnerships with digital and big data firms and increased emphasis on co-branded schemes.

Lazada will be able to attract Citi’s large client database by offering exclusive co-branded perks to the newly acquired clients on its platform as well as reaching Citi’s existing clients via their offline and online marketing channels.

Tapping into the growth potential of e-commerce spending in the region, Citi and Lazada are targeting over 500,000 sign-ups for the new credit card across the region over the next few years.

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