With an aim to make shopping at home furnishing company IKEA more affordable, convenient and rewarding, Citibank India (Citi) and Mastercard on Thursday jointly announced the launch of ‘IKEA Family Credit Card by Citi’.

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IKEA Family Credit Card: What all it offers?

As per a company statement, this card provides instant in-store card bookings, direct payments via Bharat QR, accelerated reward points and attractive EMIs. Furthermore, the card will also offer reward points on all purchases with instant reward redemption at IKEA.

IKEA Family Credit Card: Eligibility?

- The IKEA Family Credit Card by Citi is available to IKEA Family members at ‘zero joining fee and zero annual fee’ and can be used for purchases made on IKEA’s online and offline stores, or anywhere in the world that accepts credit cards.

-Together with Citi, IKEA has secured an affordable EMI option for the customers that extends from 03 to 48 months, allowing even more flexibility.

- The in-store card application process is completely digital with instant verification and immediate usage, a first for any co-branded card in India.

- Customers can simply apply for the card when they visit the IKEA Hyderabad store or leave a message on the IKEA website expressing an interest to apply.

Commenting on the launch, Preet Dhupar, Chief Finance Officer and Sustainability Lead, IKEA India, said, "The card is an excellent example of the way we want to meet the needs of the customers in India. It makes our products affordable to the many, it is executed in a simple, digital and secure manner making access to credit faster for the customers. We want to ensure IKEA continues to be a great place to shop while meeting the growing need for personalization, relevance and to be easy-on-pockets for the customers.”

Kavitha Rao, Country Commercial Manager at IKEA India said, “We are excited to launch the IKEA Family Credit Card by Citi; it is an important step for us to make home furnishing more affordable for our customers in India. It brings us closer to our vision of creating a better everyday life for the many people through our well designed, functional, and affordable home furnishing products. Through this initiative, we hope to make it possible for our customers to turn their dream homes into reality and enjoy their everyday life at home better with their families.”

On the alliance, Porush Singh, Division President, South Asia, Mastercard commented, “Mastercard is excited to partner with Citi and IKEA for the launch of IKEA’s first co-branded card in India. Over the last few years, co-branded cards have emerged as a way to generating loyalty of customers to the partner as well attracting new shoppers. Given Mastercard’s global leadership in the co-branded card space, and the constant emphasis on enhanced user experience, safety and security of payments, the IKEA Family Credit Card by Citi will provide greater value to cardholders who are shoppers at IKEA. The partnership will also go a long way in driving affordability among consumers, not just during the upcoming festive season but even thereafter.”

“Our association with IKEA has grown from a pure banking relationship with the launch of IKEA’s first store, to one of innovation and partnership that we expect will delight IKEA customers in India. We will continue to partner with IKEA on their universal banking needs in India,” said Anand Chandrasekhar, Head of Global Subsidiaries Group in India, Citi.

"IKEA started its retail operations in India in August 2018 with its first store in Hyderabad. In 2019 it started its online services in Mumbai, Hyderabad, and Pune. Over the next few years, the company wants to reach 100 million customers through the omnichannel route, which will be a combination of online and offline stores, comprising multiple store formats," the home furnishing company said.