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September 14, 2020

Citi, Wayfair team up to launch new credit cards for customers in US

Citi Retail Services (CRS), a part of Citigroup, has inked a long term partnership agreement with e-commerce company Wayfair to launch new credit cards for customers in the US.

The firms will roll out a private label ‘Wayfair Credit Card’ and a co-branded ‘Wayfair Mastercard’.

These cards will provide Wayfair customers in the US with unified digital financing options, rewards, and benefits.

Both the cards come with a cashback offer of 5% or up to 60 months of financing on eligible Wayfair purchases.

The rewards do not expire, and the cards have no annual fees. Cardholders can also get $40 off on a Wayfair purchase of $250 or more.

Wayfair head of US consumer financing Larry Lataif said: “With the Wayfair Credit Card and Wayfair Mastercard, we are also able to reward our loyal customers with more added perks and benefits than ever before.

“We are pleased to partner with Citi Retail Services to make it even more rewarding for our customers to create a home they love.”

Citi Retail Services head Craig Vallorano said: “Our new digital credit card program with Wayfair further diversifies our CRS portfolio, offering innovative financing options for consumers across a wide array of leading brands spanning brick-and-mortar and e-commerce.”

Additionally, the Wayfair Mastercard offers cardmembers with a 3% cashback at grocery stores, 2% on online purchases, and 1% back on other purchases.

Mastercard North America EVP Meredith Spatz said: “As we all are spending more time at home, we are excited to work with Citi and Wayfair to provide Wayfair customers with a convenient and rewarding program that enables them to make purchases towards their home and beyond.”

Last week, Zimswitch partnered with Mastercard to modernise Zimbabwe’s payment infrastructure.

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