Latitude Financial has secured an exclusive 10-year agreement to provide credit cards for David Jones.
Under the agreement, Latitude will begin issuing two new credit cards to qualifying David Jones customers from September 2023. The new David Jones credit cards will offer customers additional benefits, while retaining most features of David Jones’ current cards.
The terms also confirm plans for Latitude to acquire David Jones’ existing cards portfolio subject to further agreement and following the expiry of David Jones’ partnership with American Express.
Latitude CEO and managing director, Ahmed Fahour said, “This new partnership with David Jones, one of our most iconic and premium omnichannel retailers with more than $2 billion in sales and 59.5 million store visits in 2021, further cements Latitude’s position as the finance partner of choice for Australia’s biggest brands.
“With its 42 stores and substantial online presence, David Jones understands the value to customers of its credit cards and is focused on growing and innovating the portfolio over the next 10 years. This is an exciting partnership which will add an important new revenue stream, introduce new customers to Latitude and enable us to further develop our white label capabilities in support of all our current and future partners.”
David Jones CEO, Scott Fyfe said, “Our Financial Services program is a core pillar of our service offering to our customers. We have partnered with Latitude because we have a common vision to deliver a best-in-class, digital-first card offering to our customers. We will launch our brand-new card program in 2023 and we look forward to welcoming our existing and new customers.”