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Banking & Finance

Citi partners with Lazada

Released at: 17:26, 07/10/2016

Citi partners with Lazada

Two come together to offer special promotions for card holders.

by Doanh Doanh

Leading global bank Citi has announced a new partnership in Southeast Asia with the Lazada Group, Southeast Asia’s leading online shopping destination.

This is the first time Citi has collaborated with an e-commerce site in Southeast Asia to offer region-wide promotions to benefit its card holders.

“We have seen that the rapid adoption of mobile and other digital channels has truly transformed how and where people bank,” said Mr. Anand Selva, Head of Asia Pacific Consumer Banking for Citi. “We are thus delighted to partner with Lazada to drive growth in our cards business via new acquisitions and increased customer loyalty.”

Under the new partnership, Citi card holders will enjoy a discount of up to 15 per cent on selected days when shopping on Lazada. Further, shoppers who sign up for a new Citi credit card will receive additional discounts on Lazada.

The partnership will be launched in Indonesia, Malaysia, the Philippines and Thailand in October ahead of Lazada’s Online Revolution campaign next month, the largest online shopping event in the region. 

In Singapore and Vietnam, Citi and Lazada already have an existing partnership. In Vietnam Lazada shoppers who sign up for a new Citi credit card will receive a Lazada e-voucher valued up to VND2 million ($87) until November 22.

Moreover, Citi card holders can also enjoy various benefits when shopping on Lazada, including ten-times reward points, a 5 per cent cash back or three-times PremierMiles, and access to the Citi PayLite program, with 0 per cent interest installment plans and no fees, to the end of the year.

“Our strategy in consumer banking is to be the world’s leading digital bank, which includes delivering a remarkable client experience in key digital ecosystems,” said Mr. Selva.

Citi is Asia’s leading credit card issuer, with over 16 million credit cards, and also offers consumer banking services across the six markets where Lazada operates. The partnership is expected to lead to further growth in Citi’s card business in the region and reinforces its objective to be more relevant in digital ecosystems where the bank’s clients are increasingly active.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and territories. It 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.

Launched in March 2012, Lazada is pioneering e-commerce in the region by providing customers with an effortless shopping experience with multiple payment methods, including cash-on-delivery, and extensive customer care and free returns. It boasts a wide product offering in categories ranging from consumer electronics to household goods, toys, fashion and sports equipment.

It also offers brands and merchants a marketplace solution with simple and direct access to about 560 million consumers in six countries through one retail channel.

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