Citi Expands Customer Engagement and Commerce Media Capabilities With Addition of Kard

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Postmedia has not reviewed the content. by Business Wire Citi Expands Customer Engagement and Commerce Media Capabilities With Addition of KardAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Business Wire Business WireTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountKard’s commerce media and rewards platform will help Citi deliver more personalized credit card rewards and offers for customers and create new engagement opportunities for merchantsThe proposed acquisition aims to combine Citi’s scale with Kard’s technology, talent and brand relationships to enable a superior consumer and merchant experienceThis move will advance Citi’s Investor Day priorities and further strengthen its commerce ecosystem strategyNEW YORK — Citi’s U.S. Consumer Cards business today announced that it has entered into an agreement to acquire Kard Financial, Inc. (Kard), a company that operates a commerce media and rewards platform that helps banks and fintechs deepen customer engagement through personalized offers.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againWith billions of transactions and a network of leading fintechs, banks and neobanks, Kard provides an innovative commerce media platform that connects financial institutions and merchants through verified transaction data and merchant-funded rewards. Its embedded, machine learning-powered personalization and matching capabilities simplify rewards for issuers, deliver meaningful value to customers and help brands reach high-intent consumers with measurable outcomes.By combining Citi’s scale and payments expertise with Kard’s technology, talent and merchant relationships, the proposed acquisition will strengthen Citi’s commerce ecosystem, enabling more personalized rewards and offers while creating new opportunities to connect customers, merchants and brands.“We’re focused on helping customers get more value from their everyday spending,” said Abhinav Anand, Citi’s Head of Value Cards, Lending and Commerce. “Kard has built advanced capabilities that complement our vision for the future of commerce and loyalty. With this acquisition, we believe we can work with Kard to accelerate innovation and deliver more personalized experiences for customers while creating new opportunities for brands and merchants to reach, engage and reward consumers in more meaningful ways.”“Joining forces with Citi marks an exciting new chapter for Kard, our team and our customers,” said Ben Mackinnon, Kard’s Founder and Chief Executive Officer. “I started Kard with the goal of building more rewarding experiences for consumers. Now being able to do that for Citi’s 70 million cardmembers1, on top of the millions we support today, accelerates that original vision towards building the future of commerce.”Terms of the transaction were not disclosed and are not material to Citi’s financial results. The transaction is subject to satisfaction of customary closing conditions. Until the transaction closes, Citi and Kard will continue to operate as independent organizations. Keefe, Bruyette & Woods, A Stifel Company, acted as exclusive financial advisor to Kard in connection with the transaction. Sullivan & Cromwell LLP acted as counsel to Citi and Latham & Watkins LLP acted as counsel to Kard.As of December 31, 2025. Includes General Purpose and Private Label Credit Cards and Installment Lending, primarily in the U.S.Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citiAbout Kard Kard is the leading rewards infrastructure powering next-generation personalized rewards through a commerce media network. Using predictive AI and first-party transaction data, Kard helps financial institutions, fintechs, and brands understand and influence real consumer spend. Its flexible, API-driven platform enables partners to deliver personalized, data-driven rewards that deepen engagement, build loyalty, and turn rewards into revenue-generating marketing channels. Kard is backed by leading investors including Underscore Ventures, Fin Capital, and Tiger Global.Certain statements in this release are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences. Actual results may differ materially from those included in these statements due to a variety of factors. These factors include, among others, satisfaction of the closing conditions to the transaction, including required regulatory approvals; and the precautionary statements included in this release. These factors also consist of those contained in Citi’s filings with the U.S. Securities and Exchange Commission, including, without limitation, the “Risk Factors” section of Citi’s 2025 Form 10-K. Any forward-looking statements made by or on behalf of Citi speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.