'IKEA Family Credit Card by Citi' launched

Over the next few years, the company aims to reach 100 million customers through the omni-channel route, which would be a combination of online and offline stores, comprising multiple store formats. "Mastercard is excited to partner with Citi and IKEA for the launch of IKEAs first co-branded card in India.

Hyderabad, Oct 14 (PTI): Citibank India (Citi) and Mastercard on Wednesday jointly announced the launch of 'IKEA Family Credit Card by Citi' to make shopping at the Swedish furnishing company more affordable, convenient and rewarding. The card provides instant in-store card bookings, direct payments via Bharat QR, accelerated reward points and attractive EMIs and would also offer reward points on all purchases with instant reward redemption at IKEA, a press release from IKEA, the Swedish company, said.

The card is available to IKEA family members at 'zero joining fee and zero annual fee' and can be used for purchases made on IKEAs online and offline stores, or anywhere in the world that accepts credit cards. Speaking during the launch of the card, Country Commercial Manager at IKEA India Kavitha Rao said, "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," Rao said.

IKEA started its retail operations in India in August 2018 with its first store here. In 2019 it started its online services in Mumbai, Hyderabad, and Pune. Over the next few years, the company aims to reach 100 million customers through the omni-channel route, which would be a combination of online and offline stores, comprising multiple store formats.

"Mastercard is excited to partner with Citi and IKEA for the launch of IKEAs 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," division president (South Asia), Mastercard, Porush Singh said. "Our association with IKEA has grown from a pure banking relationship with the launch of IKEAs 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," Head of Global Subsidiaries Group in India, Citi, Anand Chandrasekhar said.