Citigroup's Global Transaction Services business has been awarded a framework agreement to offer Prepaid Solutions to the 3,300 national, regional and local public sector agencies throughout the United Kingdom.
The offering is under the PrePayment Card framework agreement developed by Buying Solutions, the national procurement partner for UK public services.
Public sector clients can benefit from simple and convenient ways to deliver a variety of payments to beneficiaries. For instance, Citi Prepaid Services replaces cash and cheques for social benefits with prepaid funds readily accessible by beneficiaries worldwide. Beneficiaries are able to receive their prepaid social benefits payments for pensions, disability, tax credits, housing benefits, childcare, personalised healthcare, asylum payments, community equipment such as Simple Aids to Daily Living, petty cash, emergency and disaster relief payments and student loan benefits.
Rajesh Mehta, Head for Treasury and Trade Solutions for Europe, the Middle East and Africa, Citi, said, "This award by Buying Solutions underscores our continued investment in the prepaid services businesses. We are delighted to be part of the Buying Solutions' framework agreement and are adamant in our belief that clients will benefit from innovative programme reporting, dedicated client service teams, and award winning customer service."
Neil Kitchen from the Buying Solutions ePayments Team added: "The savings in using the framework agreement are made in both time and procurement costs, with very simple project documentation and reduced evaluation costs."