Citi partners with Lazada to launch co-branded credit card
In this article (5)
The financial services company Citi has partnered with Lazada Group to launch the Lazada Citi credit card in Southeast Asia.
Offering 10 times more rewards on Lazada purchases and Lazada Wallet top-ups, Citi and Lazada aim to reach more than 500,000 signups of the new card across the region during the next few years.
“As a leading consumer lifestyle destination, we want to bring more value to our customers and a co-branded card that rewards users on their purchases,” said Mary Zhou, chief marketing officer at Lazada Group. “With the theme ‘Play-it-up’, this card brings lifestyle benefits to our valued customers advocating entertainment on top of our everyday promotions.”
Asia Pacific cards and loans region head at Citi, Sergio Zanatti, said that through the partnership, Citi is looking to increase its consumer-banking customer base in Asia Pacific by about 2 million during the next few years.
He said that with the new collaboration, Citi will be able to reach more potential customers who are millennials as they account for the vast majority of e-commerce customers while Lazada can now offer its customers new payment method to enhance their shopping experience through a global financial platform.
The new credit card is already available in Malaysia and will be introduced in Lazada’s other regional markets during the next six months.
Questions & Answers
Q.What are the main benefits of the new Lazada Citi credit card for customers?
What are the main benefits of the new Lazada Citi credit card for customers?
Customers using the new card will receive ten times more rewards on purchases made on Lazada and when topping up their Lazada Wallet. The card is designed to offer lifestyle benefits and entertainment in addition to standard promotions.
Q.What are Citi's strategic goals for this partnership?
What are Citi's strategic goals for this partnership?
Citi aims to increase its consumer-banking customer base in Asia Pacific by approximately 2 million over the next few years. The collaboration is also expected to help Citi reach more millennial e-commerce customers.
Q.Which markets will see the new credit card introduced?
Which markets will see the new credit card introduced?
The new credit card is currently available in Malaysia. It will be rolled out across Lazada's other regional markets within the next six months.
Q.How many new sign-ups do Citi and Lazada hope to achieve?
How many new sign-ups do Citi and Lazada hope to achieve?
Citi and Lazada are targeting more than 500,000 sign-ups for the new co-branded credit card across the Southeast Asia region over the next few years.