AMERICAN global banking giant Citi has teamed up with online marketplace Lazada Group to launch an e-commerce partnership in Southeast Asia, a collaboration that will be rolled out in the Philippines this October.
This is the first time that Citi is collaborating with a leading e-commerce platform in Southeast Asia on region-wide promotions to benefit Citi cardholders. The partnership is seen to further grow Citi’s cards business in the region and reinforce its objective to be more relevant in digital ecosystems where the bank’s clients are increasingly active.
Under the partnership, Citi cardholders will enjoy a discount of up to 15 percent on selected days when shopping on Lazada. Further, shoppers who sign up for a new Citi credit card will receive additional discounts on this e-commerce site, Citi said in a press statement on Wednesday.
This partnership will be launched 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 Nov. 11 to Dec.12. In Singapore and Vietnam, Citi and Lazada already have an existing partnership deals.
“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.
“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 at the Lazada Group.
In the Philippines, Citi cardholders currently enjoy 10 percent off when shopping at Lazada with an exclusive one-time use voucher. Valid until Oct. 31, the offer applies to spending of at least P1,000 with a maximum discount of P500. This promotion is part of #LovetoClick, where Citi Philippines is aggressively promoting digital spend by providing its cardholders a wide range of incentives – from outright discounts to waived shipping fees.
“More and more consumers are discovering the convenience of online shopping and digital payments. Apart from our local presence, we are leveraging our global and regional networks to ensure that we give our clients the best value for their money along with the convenience of mobile and internet purchases,” said Bea Tan, consumer banking head for Citi Philippines.