Citibank India and Mastercard has collaborated to launch ‘IKEA Family Credit Card by Citi’.
This card provides instant in-store card bookings, direct payments via Bharat QR, accelerated reward points and attractive EMIs. Furthermore, the card will also offer reward points on all purchases with instant reward redemption at IKEA.The accumulated points can be redeemed in part or full at IKEA seamlessly. Additionally, all card EMI purchases at IKEA store will be at preferential rates. IKEA Family members, with this credit card, will earn accelerated reward points at IKEA and benefit from innovative affordability solutions.
The Credit Card by is available to IKEA Family members with zero joining fee and zero annual fee .
The card can be used for purchases made on IKEA’s online and offline stores, or anywhere in the world that accepts credit cards. Together with Citi, IKEA has secured an affordable EMI option for the customers that extends from 03 to 48 months, allowing even more flexibility. The in-store card application process is completely digital with instant verification and immediate usage, a first for any co-branded card in India.
Kavitha Rao, Country Commercial Manager at IKEA India said, “We are excited to launch the IKEA Family Credit Card by Citi; it is an important step for us to make home furnishing more affordable for our customers in India. It brings us closer to our vision of creating a better everyday life for the many people through our well designed, functional, and affordable home furnishing products. Through this initiative, we hope to make it possible for our customers to turn their dream homes into reality and enjoy their everyday life at home better with their families.”
“The card is an excellent example of the way we want to meet the needs of the customers in India. It makes our products affordable to the many, it is executed in a simple, digital and secure manner making access to credit faster for the customers. We want to ensure IKEA continues to be a great place to shop while meeting the growing need for personalization, relevance and to be easy-on-pockets for the customers.”said Preet Dhupar, Chief Finance Officer and Sustainability Lead, IKEA India.
On the alliance, Porush Singh, Division President, South Asia, Mastercard commented, “Mastercard is excited to partner with Citi and IKEA for the launch of IKEA’s first co-branded card in India. Over the last few years, co-branded cards have emerged as a way to generating loyalty of customers to the partner as well attracting new shoppers. Given Mastercard’s global leadership in the co-branded card space, and the constant emphasis on enhanced user experience, safety and security of payments, the IKEA Family Credit Card by Citi will provide greater value to cardholders who are shoppers at IKEA. The partnership will also go a long way in driving affordability among consumers, not just during the upcoming festive season but even thereafter.”
“Our association with IKEA has grown from a pure banking relationship with the launch of IKEA’s first store, to one of innovation and partnership that we expect will delight IKEA customers in India. We will continue to partner with IKEA on their universal banking needs in India,” said Anand Chandrasekhar, Head of Global Subsidiaries Group in India, Citi.
This is the very first consumer credit card partnership between IKEA and Citi globally.
