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David Jones replaces American Express with Latitude in 10-year credit deal

Department store David Jones is replacing its long-term own-brand credit-card partner American Express with Lattitude in a 10-year contract. 

“Our financial services program is a core pillar of our service offering to our customers,” said David Jones CEO Scott Fyfe. “We have partnered with Latitude because we have a common vision to deliver a best-in-class, digital-first card offering to our customers.”

The new program will be launched in September and cardholders progressively transferred over from American-Express branded cards to the new product. 

Subject to further agreement, Latitude will acquire David Jones’ existing cards portfolio following the expiry of David Jones’ partnership with American Express.

Latitude has more than 2.8 million customer accounts in Australia and New Zealand and is a financial services partner with Harvey Norman, JB HiFi, The Good Guys, Samsung and Apple

The company said the new David Jones credit cards will offer customers additional benefits while retaining most features of David Jones’ current cards, but did not provide further details. 

Latitude CEO and MD Ahmed Fahour highlighted the significant opportunity David Jones offers the finance house, with annual sales above $2 billion and 59.5 million store visits in 2021. 

“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,” said Fahour. 

“This is an exciting partnership that 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.” 

Within David Jones, the program will be led by GM Jess Aloi, who said the deal with Latitude will allow the retailer to transform its financial services offering “into something that is modern and premium as we continue to offer a truly unique customer experience”.

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