Eligible credit card members can now pay in monthly instalments for Amazon products with Citi Flex Pay when using Amazon Pay during checkout. The new payment option applies to eligible purchases of $50 or more.
This is the first time Citi credit card members can use Citi Flex Pay through a digital wallet. The digital wallet uses customer information stored in their Amazon wallet – including email and shipping addresses, and payment methods – so that customers do not need a new account or remember passwords when checking out.
In addition, Citi cardholders get 0% APR for three-, six- and 12-month instalment plans on Amazon Pay with Citi Flex Pay from now until 31 July 2023.
Sergio Zanatti, head of U.S. Unsecured Lending at Citi, said: “At Citi, we are passionate about offering our customers best in class payment options so that they can pay the way they choose.
“We are thrilled to continue to expand our Flex Pay to Amazon Pay. This move provides flexibility for even more retailers and shoppers directly integrated within their checkouts”, Zanatti continued.
Citi’s payment options
The move comes after the bank announced a sweeping series of new payment options in 2022, including Citi 7-Day Sweeps in the US and South Korea – a cash management service allowing clients to optimize the management of their cash balances and concentrate liquidity seven days a week.
In an interview for RBI, Steve Elms, global head of Corporate, Commercial and public-sector sales at Citi Treasury and Trade Solutions, stated that he hoped to see significant growth in the digital innovation space “for 2023 and years to come”.
Omar Soudodi, director of Amazon Pay, also welcomed the new partnership with Citi.
“Customers want flexible payment options, and merchants want to offer that flexibility but don’t always have the resources to do so”, Soudodi said. “Introducing Citi Flex Pay on Amazon Pay is a win-win for both customers and merchants—customers have a new, convenient way to pay for their purchases, and merchants can seamlessly offer new and existing customers more choice, affordability, and flexibility in how they pay.”