Boost for Citi card users with Lazada tie-up in S-E Asia

Citi is growing its credit card business by following its customers' shopping trail - online.

The bank, which has issued some 16 million credit cards in Asia, is partnering e-commerce site Lazada Group to offer discounts to Citicard users across key markets in South-east Asia from next month.

Cardholders will enjoy a discount of up to 15 per cent on selected days when shopping on Lazada.

Lazada shoppers who sign up for a new Citi credit card will receive additional discounts on the site, which sells everything from groceries to clothing and accessories.

This promotion will be launched in Indonesia, Malaysia, the Philippines and Thailand next month. In Singapore and Vietnam, Citi and Lazada already have a partnership.

"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," the bank said in a statement yesterday.

Mr Anand Selva, Citi's head of Asia-Pacific consumer banking, said: "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 Lazada to drive growth in our cards business."

Mr Selva noted that Citi has been making efforts to partner key digital players across the region.

Last month, it tied up with Grab to allow Citi card users in five South-east Asian markets to pay for Grab rides using credit card points.

Citibank Singapore chief executive Han Kwee Juan noted that Singapore's e-commerce platforms have been growing at a phenomenal rate and Citibank customers have been shopping online more. In recognition of this trend, Citibank Singapore started collaborating with Lazada around a year ago. "We look forward to working more closely with Lazada to offer more specially curated shopping privileges for our valued customers," he said.

A version of this article appeared in the print edition of The Straits Times on September 27, 2016, with the headline 'Boost for Citi card users with Lazada tie-up in S-E Asia'. Print Edition | Subscribe