Citigroup today announced that its Global Transaction Services unit is expanding its premier cross-border payment solution, WorldLink Payment Services (WorldLink), into eight new countries for local payments.
This expansion sees the traditional Automated Clearing House (ACH) offering increase from 21 countries, primarily in Europe, to 29 countries spanning Europe, Africa, Asia and the Americas. As part of the continuous improvement to WorldLink, file based clients can now benefit from this expanded currency offering for local payments.
Key additions to the WorldLink suite of countries for the ACH offering now include Brazil, Dominican Republic, Israel, Jamaica, Morocco, South Africa, Trinidad & Tobago and Tunisia.
This increase in ACH country availability further establishes WorldLink as having the largest currency suite available across the widest array of payment types for cross border payments in the market. WorldLink offers in excess of 130 currencies in Funds Transfers, ACH, Mass Pay, Remote Checks, On-Site Checks and Cash to over 180 countries worldwide.
In September 2011, WorldLink announced enhancements to the exotic currency offering. These enhancements coupled with our extended ACH offering firmly place WorldLink as a market leader, continuing to stay ahead of the curve for exotic and emerging market payments.
Michael Vallance, Global Head of WorldLink Payment Services at Citi, says "We continue to see increasing client requirements for a larger focus on local currency payments, especially in emerging and developing markets. Thanks to Citi's global network, local presence and WorldLink's long history of cross-border payment execution we have been able to quickly refine and optimize our offerings to meet our clients' ever-changing needs."