Citi Cards and Staples Renew Contract

Citi Cards has reached an agreement on a long-term renewal of its contract with Staples. Under the agreement, Citi Commerce Solutions (CCS), will continue to provide processing services for all of Staples private label credit card programs. As part of their effort to make buying office products easy, Staples and CCS have designed, developed, and implemented a new, innovative process to provide businesses with instant credit. The Staples Instant Credit process allows business customers to apply for credit in Staples stores, receive a response in seconds and make a purchase immediately on their new account. In conjunction with Citi Cards, Staples offers three private label credit programs to meet the needs of businesses and organizations of all sizes, as well as individual consumers - The Staples Business Credit Account with Revolving Terms, The Staples Business Account with Net Pay terms, and the Staples Personal Credit Account. Each credit program has no annual fee, and can be used for purchases at Staples stores, by catalog and online at Staples.com. The Staples Business Credit Account with Revolving Terms provides small and medium-sized commercial customers with a dedicated, revolving line of credit, giving them the flexibility to pay in full each month or carry a balance, while the Staples Business Credit Account with Net Pay Terms is a full balance due account that offers a dedicated line of credit for larger businesses, governmental agencies, and educational institutions that need the ability to apply payments to specific invoices. Both of the Staples Business Credit Account programs offer free, secure 24-hour online account access, monthly statements with itemized detail and Staples Business Rewards points for all purchases made on the account. Additionally, the Staples Personal Credit Card, for individuals for personal or home use, offers extended terms on larger purchases.