Tuesday, 23 April 2024
Citi and Lazada announce regional partnership
Singapore -- Citi, the leading global bank, and Lazada Group, Southeast Asia’s leading online shopping and selling destination have announced a new partnership across key markets in Southeast Asia. This is the first time Citi is collaborating with a leading eCommerce site in Southeast Asia on region-wide promotions to benefit Citi card holders.
Citi card holders will enjoy a discount of up to 15% on selected days when shopping on Lazada. Further, shoppers who sign up for a new Citi credit card will receive additional discounts on Lazada. This will launch 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 from 11th November to 12th December. In Singapore and Vietnam, Citi and Lazada already have an existing partnership.
Citi is Asia’s leading credit card issuer with over 16 million credit cards in Asia 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.
“Our partnership with Lazada is further testament of our relentless efforts in driving digital with key players across the region to meet the evolving lifestyle behaviors and preferences of our customers. This important partnership is part of our forward compatible journey in making our customers’ lives simpler, frictionless and more efficient in every way,” said Anand Selva, Head of Asia Pacific Consumer Banking for Citi.
Han Kwee Juan, Chief Executive Officer of Citibank Singapore, said, “Singapore's e-commerce platforms have been growing at a phenomenal rate and so has the affinity for online purchases by our customers, which has been increasing in tandem. In recognition of this trend, we started collaborating with Lazada around a year ago on their highly successful “Wild Weekend Sale”, where we offer exclusive discounts to Citibank card members every weekend. We are pleased with this hugely successful and popular concept, which has made shopping even more rewarding for our customers. We look forward to working more closely with Lazada to offer more specially curated shopping privileges for our valued customers.”
“Lazada strives to elevate the mobile and online shopping experience for our customers by bringing the best value through brand, retail and marketing partnerships. We are pleased to work with Citi in extending the benefits of online shopping to the 560 million consumers in the region,” said Charles Debonneuil, Chief Marketing Officer, Lazada Group.
Re-disseminated by The Asian Banker
