Citi adds new capabilities to its bill payments platform

Tuesday 21 December 2021 11:11 CET | News

Citi has added two capabilities to its digital bill payments platform, Citi Present and Pay, which helps institutional billing clients streamline transactions.

Citi Verify lets billers validate customer bank account details in real time – helping ensure compliance with rules set by the National Automated Clearing House Association (Nacha).

Request for Pay (RfP), a standardised Automated Clearing House (ACH) network message, lets billers send electronic invoices to customers, who can then initiate near-real-time payments.

Present and Pay includes a white-labeled portal where billers can distribute digital invoices by email, SMS/text, voice/phone, and web. Customers can log into the portal to view invoices and make payments with ACH, debit and credit cards, checks, and ‘alternative payment methods’ (APM). Customers can also set up one-time, recurring, or automatic transactions.

Citi Verify can help billers validate customer bank accounts, helping minimise the risk of fraudulent transactions and unintended payment declines, which can be costly to mitigate. 

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Keywords: Request to Pay, product upgrade, digital payments, e-invoicing, ACH, banks
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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