Citi and Lazada Launched SEA’s First e-Commerce Credit Card
3 min read
(From left to right) 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.
Citi, the largest pan-regional credit issuer, has teamed up with Lazada Group and announced Southeast Asia’s first e-commerce credit card starting with Malaysia and will soon be introduced to other regions over the next 6 months. For those unsure what an e-commerce credit card is, it is basically a credit card not in the flesh.
Perks of the virtual card includes earning 10X the reward points on Lazada purchases and Lazada Wallet top-up in line with the card’s “Play it Up” theme. It also offers up to 20% cashback on the Lazada Wallet top-ups and further savings when using points earned to pay for the purchase. And finally as a good thing to know but probably not as relevant to most is that cardholders can earn 1,000 bonus points every month by using the Citi Lazada credit card for all your retail purchases with minimum spending of RM 1,500 per month.
The e-commerce Citi Lazada Credit Card is targeted for over 500,000 sign-ups across the Southeast Asia region over the next few years.
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.
The card is expected to be well received in Malaysia and the neighbouring regions through the attractive incentives, benefits, features and deals. New card applicants will also receive up to RM500 Lazada vouchers when they apply online.
Furthermore, the card also comes with unique travel, wellness and lifestyle benefits with discounts from selected partners of Lazada such as Malindo, Klook, Fraser Hospitality, Dominos, Healthland, and ClassPass. Cardholders will be able to earn 5X points when spending with these partners.
With this collaboration, Citi will surely access a younger, digital-savvy customer pool who will no doubt make up the majority of the e-commerce customers in the region while Lazada increases its breath of lucrative offers and services with a global financial platform.
