Citi has teamed with dwelling furnishings big Wayfair on a pair of bank cards—one cobranded with Mastercard and a non-public label model—capitalizing on the pandemic-accelerated e-commerce increase.
Focusing on homebound customers, the Wayfair Mastercard and private-label card’s loyalty program gives 3% again in rewards for grocery purchases and a couple of% again on on-line purchases. All different purchases yield 1% again on the no-annual-fee card.
Based on eMarketer knowledge, Wayfair additionally is without doubt one of the solely U.S. e-commerce retailers to crack the Prime 10 this yr with no chain of brick-and-mortar shops augmenting its quantity, underscoring e-commerce’s momentum. (Wayfair has one retailer in Natick, Mass., and one outlet retailer in Kentucky.)
“With e-commerce persevering with to surge in recognition, we’re thrilled to associate with Wayfair to offer prospects with seamless, handy financing embedded within the path to buy,” stated Craig Vallorano, head of Citi retail providers, in a press launch.
The transfer marks the primary time Wayfair has provided a cobranded bank card. Alliance Information Programs’ Comenity Financial institution beforehand provided a private-label Wayfair bank card, which stopped accepting purchases this week.
“As all of us are spending extra time at dwelling, we’re excited to work with Citi and Wayfair,” stated Meredith Spatz, Mastercard’s govt vp for North America within the launch.
