On October 13, 2020 In order to make shopping at IKEA, home furnishing company more affordable, convenient and rewarding, it has launched ‘IKEA Family Credit Card by Citi’, in partnership with Citibank India (Citi) and Mastercard. This card is IKEA’s first co-branded card in India.
Points to be Noted
i.It is a first for any co-branded card in India, to have a full digital in-store card application process with instant verification and immediate usage.
ii.For the first time in India, Mastercard along with Citi has partnered with IKEA to offer a unique customer proposition.
iii.It is the first consumer credit card partnership between IKEA and Citi globally.
Benefits of ‘IKEA Family Credit Card by Citi’
Instant Offerings
It offers instant in-store card bookings, direct payments through Bharat QR. On all the purchases, the card offers reward points with instant reward redemption at IKEA.
EMI Option
Along with Citi, IKEA offers customers an affordable EMI(Equated Monthly Installments) option for 03 to 48 months, which allows for more flexibility.
Zero joining and annual fee for IKEA family members
IKEA Family members can avail this card at ‘zero joining fee and zero annual fee’ .
Used for IKEA’s online and offline purchase
It can be used for purchases made on IKEA’s online and offline stores, or anywhere around the world that accepts credit cards.
Note– The banking relationship of IKEA and Citi extends several decades and spans 11 countries.
Recent Related News:
On March 02, 2020, RBL Bank (formerly known as Ratnakar Bank),an Indian private sector bank, entered into a partnership with Online food ordering and delivery app Zomato to launch co-branded credit cards, powered by Mastercard, for Zomato users.
About Citibank India:
HeadQuarters– Mumbai, Maharashtra
Chief Executive Officer(CEO), Citi India and Regional Head for South Asia – Ashu Khullar
About IKEA:
Headquarters– Sweden
