ZAO Citibank and X5 Retail Group, a Russia-based retail chain, have signed an agreement on a joint project to issue co-branded cards.
The bank said that the owners of the new cards will earn rewards when making purchases at a the retail group’s Perekrestok shop as part of the ‘Perekrestok Club’ loyalty program. Both debit and credit cards will be issued and will be available to X5 retail group’s Perekrestok customers in the first half 2010.
Lev Khasis, CEO of X5, said: “X5 Retail Group is the first food retailer in Russia that has started to develop a unique loyalty-building program for its customers. Our joint project with Citibank and MasterCard will make our stores even more attractive for customers.”
Zdenek Turek, president of ZAO Citibank and head of Citi in Russia and CIS, said: “Citi Russia is delighted to welcome Perekriostok as the seventh new member to the family of our co-brand products. Perekriostok is one of the most popular and most preferred merchants for our cardholders. We believe this new partnership between Citi and one of Russia’s leading retailers will offer our joint customers benefits yet unmatched in the consumer market in Russia.”
