Citi today announced that its Global Transaction Services business' Emea platform for Citi Prepaid Services is now live in Germany, Belgium, Portugal, Switzerland and Ireland.
Citi Prepaid Services will provide these five new markets with customised prepaid card solutions, in pounds sterling, Euro, Swiss Franc and US dollar, for corporate and public sector clients looking for simple and convenient ways to deliver payments, including payroll, consumer rewards and employee incentives that the recipients can then use worldwide. Citi, the global market leader in prepaid card services, initially launched its payment solutions to the United Kingdom in November 2008 and will continue to expand this offering across the region in 2009 with a view to launching in the United Arab Emirates next.
Citi Prepaid Services has transformed payments for payroll, consumer rewards, sales incentives and government benefits, revolutionizing paper dependent inefficient and costly processing into an electronic solution that a number of leading public and private corporations across a variety of industries already rely on, including 40 of the fortune 100 and over 1,300 corporations globally. These distinctive solutions provide clients with substantial cost savings, operational efficiencies, risk mitigation, a robust reporting package, fully customised materials and valuable employee benefits. Furthermore, Citi Prepaid Services can help companies deliver consumer incentive payments that have a measurable impact, working with existing fulfillment agencies and payment processors to achieve one streamlined solution whilst increasing brand visibility. The innovative platform offered by Citi® Prepaid Services delivers a flexible programme designed to meet an organizations objectives, delivering faster, more efficient and convenient payments to employees, customers and third parties.
Rajesh Mehta, Managing Director and Regional Head for Treasury and Trade Solutions for Europe, the Middle East and Africa, Citi, said, "These solutions further reinforce Citi Prepaid's position as a dynamic tool and delivery platform and the top choice for companies iniitiating payroll, consumer rewards, sales incentives and government benefits. The roll out of these state-of-the-art products across these five new markets underscores Citi's commitment to our clients in the region and our vision to be a one-stop provider of customized services allowing our clients greater flexibility across borders."