Pan-regional credit issuer Citi has announced a partnership with the Southeast Asian e-commerce platform, Lazada Group in a bid to launch the new Lazada Citi Credit Card. The supplier, the co-branded credit card will offer 10x more rewards on Lazada purchases and Lazada Wallet top-ups. It is currently live in Malaysia and will be followed by other countries.

Sergio Zanatti, Asia Pacific and EMEA Cards and Loans Head, Global Consumer Banking, Citi, said, “Citi continues to gain traction with its regional partnership strategy, and we are delighted to be collaborating with Lazada as we build out our presence and scale in digital ecosystems where our customers are active. Through our partnerships, we are looking to increase our Consumer Banking customer base in Asia Pacific by about two million over the next few years.”

According to the supplier, the partnership is expected to assist Citi in extending its customer base to a younger, tech-savvy population and will allow Lazada Group to provide a wider range of offerings and services on the financial platform. It is also expected to allow Citi’s customers to benefit from Lazada’s regional offers. The co-branded credit card extends Citi’s partnership with Lazada Group.

“As a leading consumer lifestyle destination, we want to bring more value to our customers and a co-brand card that rewards users on their purchases. With the theme ‘Play-it-up’, this card brings lifestyle benefits to our valued customers advocating entertainment on top of our every day promotions. We are also thrilled to be partnering with Citi, the region’s leading credit card issuer,” noted Mary Zhou, Chief Marketing Officer, Lazada Group.

Established in 2012 and majorly owned by Alibaba Group Holding Limited, Lazada Group is a Southeast Asian e-commerce platform with offerings in beauty, fashion, and consumer electronics to household goods, toys, sports equipment, and groceries.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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