Company Announcements

Citi Retail Services and Wayfair Announce New Strategic Partnership With Launch of Private Label and Co-Brand Credit Cards

Multi-year agreement provides customers with seamless financing options

CHICAGO & BOSTON--(BUSINESS WIRE)--Sep. 11, 2020-- Citi Retail Services and Wayfair, one of the world’s largest online destinations for the home, today announced a long-term partnership to provide a new private label Wayfair Credit Card and co-brand Wayfair Mastercard with compelling rewards and benefits for Wayfair customers.

This new partnership with Citi Retail Services – one of North America’s largest and most experienced retail credit solution providers – will be focused on delivering a seamless digital loyalty and financing experience to Wayfair customers in the U.S.

Starting today, the Wayfair Credit Card and Wayfair Mastercard will offer 5% back in rewards or financing up to 60 months on eligible Wayfair purchases. In addition, Wayfair Mastercard cardmembers will earn:

  • 3% back in rewards at qualifying grocery stores
  • 2% back in rewards for qualifying online purchases
  • 1% back in rewards on all other qualifying purchases

The cards have no annual fee and rewards do not expire. Customers will also receive $40 off their first qualifying Wayfair purchase of $250 or more.

“At Wayfair, we are focused on creating the best possible shopping experience for home, and that includes delivering the best value while making it as easy as possible for customers to shop millions of items for every room in the home. With the Wayfair Credit Card and Wayfair Mastercard, we are also able to reward our loyal customers with more added perks and benefits than ever before,” said Larry Lataif, Head of U.S. Consumer Financing, Wayfair. “We are pleased to partner with Citi Retail Services to make it even more rewarding for our customers to create a home they love.”

“With ecommerce continuing to surge in popularity, we are thrilled to partner with Wayfair to provide customers with seamless, convenient financing embedded in the path to purchase,” said Craig Vallorano, Head of Citi Retail Services. “Our new credit card program with Wayfair further diversifies our CRS portfolio, offering innovative financing options for consumers across a wide array of leading brands spanning brick-and-mortar and e-commerce.”

“Today’s consumers are looking for products and services that simplify their lives, meet their needs and express their lifestyle,” said Meredith Spatz, Executive Vice President in North America for Mastercard. “As we all are spending more time at home, we are excited to work with Citi and Wayfair to provide Wayfair customers with a convenient and rewarding program that enables them to make purchases towards their home and beyond.”

About Wayfair

Wayfair believes everyone should live in a home they love. Through technology and innovation, Wayfair makes it possible for shoppers to quickly and easily find exactly what they want from a selection of more than 18 million items across home furnishings, décor, home improvement, housewares and more. Committed to delighting its customers every step of the way, Wayfair is reinventing the way people shop for their homes – from product discovery to final delivery.

The Wayfair family of sites includes:

  • Wayfair - All things home, all in one place.
  • Joss & Main - Stylish designs to discover daily.
  • AllModern - The best of modern, priced for real life.
  • Birch Lane - Classic home. Comfortable cost.
  • Perigold - The widest-ever selection of luxury home furnishings.

Wayfair generated $11.5 billion in net revenue for the twelve months ended June 30, 2020. Headquartered in Boston, Massachusetts with operations throughout North America and Europe, the company employs more than 16,200 people.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

Media:

Citi
Jennifer Bombardier
jennifer.bombardier@citi.com

Wayfair
Susan Frechette
PR@wayfair.com

Source: Citi

Media:

Citi
Jennifer Bombardier
jennifer.bombardier@citi.com

Wayfair
Susan Frechette
PR@wayfair.com