Online retailer Kogan.com has inked a multi-year agreement with banking major Citigroup to launch a new Kogan credit card.
Expected to be rolled out next year, the new Kogan Money Credit Card will be issued by Citi.
Besides, Citi will be in charge of system infrastructure, servicing, back office processing, regulatory and compliance oversight, as well as branded digital platforms.
Kogan.com will serve as marketer and distributor of the new offering.
Citi Australia head of consumer bank Alan Machet said: “With well over a million active customers, and having been voted by the public for the second consecutive year as ‘Australia’s favourite online retailer’ at the Online Retail Industry Awards, Kogan.com clearly offers Australian consumers excellent value.
“The Kogan Money Credit Card will be unique in the market, providing strong value to Australian consumers.”
The online retailer claims that the new credit card will be “competitively priced” and deliver “compelling loyalty incentives”. However, no precise details regarding these incentives were disclosed.
Kogan.com executive director David Shafer said: “We chose to partner with Citi because of their forward thinking and ability to leverage digital efficiency to deliver compelling value to Kogan customers.
“This partnership will be a clear-win for our customers and Citi customers.”