Citigroup's U.S. consumer card business will acquire Kard Financial, which operates a commerce media and rewards platform to help banks and fintechs deepen customer engagement.
The purchases will strengthen Citi's commerce ecosystem by allowing more personalized rewards and offers, Citi said Thursday.
Citi Head of Value Cards Abhinav Anand said through the acquisition the company will work with Kard to accelerate innovation and create opportunities for brands and merchants to engage customers.
The terms of the transaction were not disclosed, but Citi said it was not material to its financial results.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.