Citi has acquired Kard, a commerce media network specializing in personalized card-linked offers, for an undisclosed amount. The deal brings Kard’s technology platform and team into Citi’s broader retail banking operations, marking the bank’s entry into the fast-growing commerce media space.
Kard’s network leverages first-party transaction data from tens of millions of real cardholders to power next-generation personalized rewards. Using predictive AI and actual spend patterns, the company helps financial institutions deliver merchant-specific offers that influence how people shop. By linking ad exposure directly to verified online and in-store purchases, Kard can prove incremental impact at scale, a capability that has made it a notable player in the card-linked offer ecosystem.
For Citi, the acquisition is a strategic move to deepen its engagement with cardholders beyond traditional rewards programs. By integrating Kard’s infrastructure, Citi can offer more relevant, merchant-funded deals to its customers while creating a new revenue stream from advertiser spending. The bank gains a proprietary data and measurement layer that could differentiate its credit card products in a competitive market.
Kard’s existing partnerships with other financial institutions will continue to operate independently, according to the terms of the deal. Citi will absorb the company’s engineering and data science teams, folding them into its consumer banking division. The transaction is expected to close in the coming months, subject to customary regulatory approvals.
The combined entity will focus on scaling Kard’s network across Citi’s large cardholder base while maintaining the platform’s neutrality for other issuers. With Citi’s balance sheet and distribution reach, the acquisition positions the bank to compete more directly with other financial firms investing in commerce media, while Kard gains the resources to accelerate product development and expand its merchant roster.