Just over 2 months after its launch in Malaysia, Lazada has now launched their credit card with Citi in Singapore.
Simply called the ‘Citi Lazada credit card’, cardholders are promised 12x the Reward Points for every $1 spent on Lazada expenditures during the launch period from Dec 2019 to Feb 2020.
On the other hand, 5 Reward Points will be awarded for every $1 of 5x Reward Points Eligible Transactions made.
Below is the list of 5x Reward Points Eligible Transactions:
Cardholders will be subject to a cap of 10,000 rewards points per statement month for 5x Reward Points Eligible Transactions and 12x Reward Points Eligible Transactions.
For charges made to the card that aren’t on Lazada or on the 5x Reward Points Eligible Transactions list, 1 Reward Point will still be awarded for every $1 of qualifying charges.
There is no cap to 1x Reward Points that are awarded.
Locally, Citi and Lazada are looking to serve over 50 percent of young professionals with the new card over the next few years.
In the region, they are also targeting over 500,000 new credit cards in Southeast Asia over the next few years.
Said Brendan Carney, CEO of Citibank Singapore Limited and Global Consumer Banking ASEAN Cluster Head: “With over 30 per cent of our customers’ credit card spend now made via digital channels, it is important for us to continue expanding our presence and scale in digital ecosystems, and deepening our engagement with the growing eCommerce customer base in Singapore.”