Multi-Year Agreement to Provide Credit Services through Merchandise Retailer’s 4,500 Stores Nationwide
Citi (NYSE: C) announced today a new multi-year card relationship with BrandSource, one of the nation’s largest buying groups. BrandSource provides low prices, large selection and exceptional service on appliances, electronics, bedding, home furnishings, and floor covering to millions of shoppers in North America. The BrandSource Credit Card program will provide customer financing for purchases at more than 4,500 locally-owned BrandSource retailers across the country.
The signing of this U.S. retail card agreement with BrandSource reinforces Citi Retail Services’ market leading position providing customer financing and loyalty solutions in the retail industry. Citi will provide unique customer value propositions and fully integrated marketing programs to drive increased BrandSource sales and loyalty.
This new relationship follows multiple contract renewals announced by Citi over the past eighteen months with long-standing partners such as Sears and Shell, and continues to affirm Citi’s commitment to growth in the retail card space.
“Citi Retail Services is proud to welcome BrandSource to our portfolio of leading retailers across the country,” said Craig Vallorano, EVP, Citi Retail Services. “This new relationship is the latest in a series of extensions and new agreements demonstrating our commitment to provide best-in-class loyalty and credit programs and a comprehensive suite of services to our growing family of partners.”
“We are extremely excited to partner with Citi Retail Services,” said Bob Lawrence, CEO of BrandSource. “Citi’s expertise across the payments and retail industries and its ability to deliver both an integrated marketing campaign and the high-level support to our network of dealers sets them apart from other providers. This new program delivers a significant competitive edge for BrandSource and our network of dealers, and will ultimately benefit our customers.”
The BrandSource Credit Card, available in local member stores starting in April, will provide BrandSource customers with special rebates and offers, no interest financing options and a simple application process, including in-store credit approval.
Citi Retail Services provides consumer and commercial credit card products, services, and retail solutions to national and regional retailers across the U.S. The business services nearly 90 million accounts for a number of iconic brands, including The Home Depot, Macy’s, Sears, Shell, and ExxonMobil, among others.