Mastercard/Citi Retail/Wayfair launch co-brand credit card

By Georgia Wilson
Mastercard announces its partnership with Citi Retail and Wayfair to launch a co-branded and private label credit card...

In an announcement made by Mastercard, the company reported its latest strategic partnership with Citi Retail and Wayfair. 

The multi year agreement between Mastercard, Citi Retail and Wayfair, aims to provide customers with a seamless digital financing option, in the form of a private label, co-branded credit card, known as Wayfair Credit Card and Wayfair Mastercard.

“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,” commented Craig Vallorano, Head of Citi Retail Services. 

“Our new digital 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.”

As part of the partnership, Wayfair customers in the US are reported to benefit from a seamless digital loyalty and financing experience.

Features of the Wayfair Mastercard:

  • 5% back in rewards on financing for up to 60 months on eligible Wayfair purchases
  • 3% back in rewards at grocery stores (subject to those that qualify)
  • 2% back in rewards for online purchases (subject to those that qualify)
  • 1% back in rewards for any other qualifying purchases 
  • No annual fee 
  • No expiration on rewards
  • US$40 off of the first qualifying purchase over US$250

Features of Wayfair Credit Card:

  • 5% back in rewards on financing for up to 60 months on eligible Wayfair purchases
  • No annual fee
  • No expiration on rewards
  • US$40 off of the first qualifying purchase over US$250

“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,” added Larry Lataif, Head of U.S. Consumer Financing, Wayfair. 

“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,” concluded Meredith Spatz, Executive Vice President in North America for Mastercard. 

For more information on business topics in the United States and Canada, please take a look at the latest edition of Business Chief North America.

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Image source: Mastercard 

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