10:17 | 14/10/2016 Companies
Leading global bank Citi and Southeast Asia’s online trading platform Lazada Group have come up with a new partnership focusing on serving the grand Southeast Asia markets, with region-wide promotions that will benefit the lender’s cardholders.
The partnership between Citi and Lazada will give Citi cardholders discounts of up to 15 per cent on selected days when shopping on the e-commerce site. In addition, shoppers who sign up for a new Citi credit card will receive additional discounts on Lazada.
The discount will be available in Indonesia, Malaysia, the Philippines and Thailand in October ahead of Lazada’s Online Revolution campaign, the largest online shopping event in the region happening next month.
In Singapore and Vietnam, Citi and Lazada have had 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 ($91) until November 22, 2016. Citi cardholders can also enjoy various benefits when shopping on Lazada, including 10 times reward points, 5 per cent cash back or tripled Premier Miles, and Citi PayLite programme with no interest installment plan and without fee until end of this year.
Citi is Asia’s leading credit card issuer with over 16 million credit cards issued within the region 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 cards business in the region and reinforces Citi’s objective to be more relevant in digital ecosystems where the bank’s clients are increasingly active.
“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. We have seen that the rapid adoption of mobile and other digital channels has truly transformed how and where people bank. We are thus delighted to partner with Lazada to drive growth in our cards business via new acquisitions and increased customer loyalty,” said Anand Selva, head of Asia Pacific Consumer Banking for Citi./.