Citi and Lazada Launch South East Asia’s First e-Commerce Credit Card

[Finance News]

Head of Corporate Banking of Citi Malaysia Zuliana Tann; AP/EMEA Region Head of Partnership of Citi Sanjay Nambiar; Head of Cards & Unsecured Lending of Citi Malaysia Federico Grigera; Managing Director & Consumer Business Manager of Citi Malaysia Elaine Fan; Country Head Malaysia & Brunei of MasterCard Perry Ong; Chief Executive Officer of Citi Malaysia Lee Lung Nien; Chief Executive Officer of Lazada Malaysia Leo Chow; Group Chief Marketing Officer of Lazada Mary Zhou; Group Senior Vice President Partnerships of Lazada Eunice Yue; Chief Business Officer of Lazada Malaysia Kevin Lee; Chief Marketing Officer of Lazada Malaysia Diana Boo; AP/EMEA Head of Business Development of Citi Jason Lim and Head of Partnership of Lazada Malaysia Vaidehi Joshi (left to right)

Citi and Lazada Group announced the launch of a new Lazada Citi credit card – the first e-Commerce co-brand credit card in the South East Asia, at the Four Seasons Kuala Lumpur on 2 October 2019. As someone who regularly uses Lazada to purchase gadgets and household products, I was quite intrigued by this offering, and thus made my way over to the hotel for the press conference.

For the first time ever, cardholders will enjoy the highest rewards points earning on Lazada purchases and Lazada Wallet top-up with 10X points in line with the card’s theme, “Play it Up”. Shopping with Lazada is now more rewarding with up to 20% cashback on Lazada Wallet top-ups and further savings by using points earned to offset Lazada spending. What’s more, earn 1,000 bonus points every month by using this card for all your retail purchases with minimum retail spend of RM1,500 per statement month.

Tapping into the growth potential of e-commerce spending in the region, Citi and Lazada are targeting over 500,000 sign-ups of the new card across the region over the next few years. The launch of the Lazada Citi card is a natural extension to Citi and Lazada’s regional partnership which dates back to 2016.

Managing Director & Consumer Business Manager of Citi Malaysia Elaine Fan; Chief Executive Officer of Citi Malaysia Lee Lung Nien; Chief Executive Officer of Lazada Malaysia Leo Chow and Group Chief Marketing Officer of Lazada Mary Zhou officiating the launch of the Lazada Citi credit card. (left to right)

Group Chief Marketing Officer of Lazada Mary Zhou mentioned that the Lazada Citi credit card offers curated benefits, features and deals that caters to the lifestyle needs of shoppers who are embracing eCommerce as a key component of their daily lives.

Speaking at the launch of the Lazada Citi credit card, Citi Malaysia Consumer Business Manager Elaine Fan said, “This is a step forward in co-branding for the credit card business as it showcases the power of e-Commerce combined with the strengths of a global financial platform. At Citi our priorities include expanding into new segments such as millennial shoppers who make up the most number of e-Commerce customers. Citi clients have shown a greater preference for transactions in digital ecosystems. As a premier global digital bank, we are constantly innovating to bring to the market exciting digital financial solutions.”

“As part of ongoing efforts to become a leading lifestyle destination for Malaysians, Lazada continues to innovate products that combine rewarding, entertaining shopping experiences with the best deals. Themed ‘Play-it-up’, the Lazada Citi credit card makes a great choice for shoppers who are unafraid to embrace cashless digital lifestyle solutions and demand more value out of their purchases. We are thrilled to be partnering with Citi to offer this card to our customers,” said Leo Chow, Chief Executive Officer, Lazada Malaysia.

In line with the card’s theme, “Play it Up”, cardholders will enjoy the highest rewards points earning on Lazada purchases and Lazada Wallet top-up with 10X points among many other benefits. (From left to right) Chief Business Officer of Lazada Malaysia Kevin Lee; Group Chief Marketing Officer of Lazada Mary Zhou; Chief Executive Officer of Lazada Malaysia Leo Chow; Chief Executive Officer of Citi Malaysia Lee Lung Nien; Managing Director & Consumer Business Manager of Citi Malaysia Elaine Fan and Country Head Malaysia & Brunei of MasterCard Perry Ong (left to right)

The card includes a range of incentives of including exclusive benefits, features and deals, while new card applicants will also receive up to RM500 Lazada vouchers when they apply online.

This card also comes with unique travel, wellness and lifestyle benefits and discounts from selected partners such as Malindo, Klook, Fraser Hospitality, Dominos, Healthland and ClassPass. Cardholders will also be able to earn 5X points when they spend with these partners.

With the new card, Citi hopes to access a younger, digitally-savvy customer pool who make up the majority of e-commerce customers in the region while Lazada widens its breadth of offers and services by leveraging a global financial platform.

Citi’s Asia Pacific Consumer Banking business has around 15.2 million credit cards, covering 12 markets in Asia Pacific as well as five in EMEA. Close to half of new credit card and loan acquisitions are generated digitally today, representing a more than two times increase in the last three years.

The Lazada Citi credit card is currently available in Malaysia and will be introduced to other markets in the region over the next six months.

Photo Credits: Citi & Lazada