Citi Moves to Buy Kard to Personalize Card Rewards

Rewards have become a key battleground for U.S. card issuers seeking to increase spending and customer loyalty. Citi’s U.S. Consumer Cards business serves about 70 million customers, while Kard Financial operates an API-first commerce media platform connecting issuers and merchants. Kard uses first-party transaction data to deliver personalized, merchant-funded offers, giving brands a measurable channel to reach consumers and helping financial institutions differentiate their rewards programs.

Citi said on Aug. 13, 2026, that its Consumer Cards unit plans to acquire Kard Financial, combining the bank’s payments scale and expertise with Kard’s technology. Financial terms were not disclosed, and completion remains subject to customary closing conditions. As of October 2025, Kard was processing more than $10 billion in transactions each month and reaching tens of millions of consumers, providing Citi with an established platform for more targeted rewards and brand engagement.