Citi Agrees to Acquire Kard Financial Commerce Media and Rewards Platform

Citi announced on Aug 13, 2026, that its U.S. Consumer Cards business has entered into an agreement to acquire Kard Financial, Inc., a company operating a commerce media and rewards platform for banks, fintechs and neobanks. Kard's platform connects financial institutions and merchants through verified transaction data and merchant-funded rewards.

Its machine learning-powered personalization tools help issuers simplify rewards and reach high-intent consumers. Citi said the acquisition will strengthen its commerce ecosystem by combining its scale and payments expertise with Kard's technology, talent and merchant relationships. Terms were not disclosed and are not material to Citi's financial results.

Keefe, Bruyette & Woods, a Stifel company, acted as exclusive financial advisor to Kard. Sullivan & Cromwell LLP served as counsel to Citi, while Latham & Watkins LLP represented Kard.