American banking major Citi and e-commerce platform Lazada Group have rolled out a co-branded credit card for tech-savvy users in Vietnam.
Known as the Lazada Citi credit card, the new offering will provide 10 times the normal points on shopping at Lazada e-commerce site. Additionally, cardholders can avail up to 30% weekend discounts on making purchases at Lazada platforms.
Application fees will not be charged from the new users when they apply online for the credit card. Additionally, the will get up to VND2m ($86) worth of Lazada vouchers.
Citi Vietnam country officer and consumer business manager Natasha Ansell said: “This is a step forward in partnership for the credit card business as it showcases the power of e-commerce combined with the strengths of a global financial platform.”
Lazada Vietnam CEO James Dong stated: “Themed ‘Play-it-up’, the Lazada Citi credit card is a great choice for shoppers 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.”
Citi and Lazada are planning to add up to 500,000 cardholders across the region over the next few years.
Vietnam is the third market in the Southeast Asian region where Citi and Lazada have introduced their co-branded card after Malaysia and Thailand.