Citigroup's Consumer Cards to acquire fintech Kard

Citigroup is acquiring Kard, a platform that specializes in delivering personalized rewards and merchant offers directly to credit card users. This move signals a major shift in how large lenders plan to drive consumer spending. For retailers, this is good news. It means Citi is looking to close the gap between the credit card in a customer's wallet and the actual point of sale. Kard's technology allows for real-time, hyper-local offers based on a shopper's history. Expect Citi to integrate these capabilities into their existing retail partner cards and general consumer lines. Instead of broad, generic cashback programs, your customers might soon see specific incentives to shop at your business pushed through their banking app. This acquisition shows that the biggest players in consumer finance are prioritizing 'commerce media.' They want to move beyond just providing credit. They want to actively direct their cardholders toward specific merchants. As a business owner, this means your financing partners are becoming marketing partners. Keep an eye on how Citi updates its merchant portal, as there may soon be new ways to participate in targeted reward campaigns that drive foot traffic and increase average order values.

Source: Finextra — Lending

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