Banking giant plans to add commerce media technology to deliver more personalized credit card rewards and strengthen customer engagement
New York, 14 August 2026 – Citigroup is moving to strengthen its U.S. consumer banking and credit card business through a planned acquisition of Kard Financial, a company specializing in commerce media and personalized rewards technology.
Citi’s U.S. Consumer Cards business announced an agreement to acquire Kard, aiming to combine the bank’s scale and payments expertise with Kard’s technology, talent, and relationships with merchants and brands. The financial terms of the transaction were not disclosed. The deal is also subject to customary closing conditions.
The planned acquisition reflects the growing importance of personalization in the banking and payments industry. Credit card customers increasingly expect rewards and offers tailored to their spending habits, rather than receiving the same benefits as every other customer.
Kard operates a commerce media and rewards platform that connects financial institutions, fintech companies and merchants. Its technology uses verified transaction data and machine learning to help match customers with relevant rewards and offers. The platform has processed billions of transactions and works with a network of banks, fintechs and neobanks.
For Citi, the addition could help expand the way it engages with its large cardholder base. According to the company, Kard’s technology could enable more personalized rewards and create new ways for merchants and brands to reach customers through the bank’s commerce ecosystem. Citi said it had approximately 70 million cardmembers as of December 31, 2025.
The move also highlights how banking is becoming more closely connected with digital commerce. Banks are no longer focusing only on processing payments and offering traditional rewards. They are increasingly using transaction data, artificial intelligence, and digital platforms to better understand customer spending and create more relevant experiences.
Personalization can simplify the rewards process for customers by making offers more closely connected to their interests and purchasing behavior. At the same time, merchants may gain better opportunities to connect with consumers who are more likely to be interested in their products or services.
Abhinav Anand, Citi’s Head of Value Cards, Lending and Commerce, said the company is focused on helping customers receive more value from their everyday spending. He noted that Kard’s capabilities align with Citi’s plans for the future of commerce and loyalty, particularly in delivering more personalized customer experiences.
For Kard, joining Citi could significantly expand the reach of its technology. Founder and CEO Ben Mackinnon said the combination would support the company’s goal of making rewards simpler for consumers while extending its capabilities to a much larger cardholder base.
The companies will continue to operate independently until the transaction is completed. Citi said the deal is not expected to have a material impact on its financial results.
The acquisition signals a broader shift in the financial services sector, where banks are investing in technologies that combine payments, customer data, AI-powered personalization and digital commerce. As competition for consumer spending and cardholder loyalty increases, personalized rewards could become an increasingly important part of how banks build stronger and more lasting relationships with their customers.
