E-commerce firm Lazada Group has teamed up with Citibank to roll out a new e-commerce co-brand credit card for younger, tech savvy customers in Southeast Asia.
The credit card has been launched in Malaysia and will be rolled out in other markets over the next six months.
Both partners have set a target of more than 500,000 sign-ups for the new credit card over the next few years.
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.
“As a premier global digital bank, we are constantly innovating to bring to the market exciting digital financial solutions.”
On Lazada purchases and Lazada Wallet top-up, the cardholders will get 10X points.
Additionally, the cardholders will be able to enjoy up to 20% cash back on Lazada Wallet top-ups and shopping with Lazada.
Furthermore, over 1,000 bonus points can be earned by the cardholders every month if they use the credit card to pay all purchases with minimum monthly spend of MYR1,500 ($358).
Lazada Malaysia CEO Leo Chow said: “As part of on-going 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.”