X5 Retail Group to issue credit and debit cards

Russia-based X5 Retail Group and Citibank have signed an agreement to launch co-branded credit and debit cards. Owners of the new cards will get rewards when making purchases at Perekrestok supermarkets as part of the “Perekrestok Club” loyalty programme. Both debit and credit cards will be available to Perekrestok customers in the first half of 2010. Х5 Retail Group is the first food retailer in Russia that has developed a unique loyalty programme for its customers. “Our joint project with Citibank will make our supermarkets even more attractive for customers,” X5 CEO Lev Khasis said. The Perekrestok Club loyalty programme was launched by the retailer in Moscow in 2006. This year, it has been expanded beyond Moscow and is now operating in all of its outlets.