Citigroup to Expand Commercial Card Programs Across Asia/Pacific

Tuesday 9 November 2004 10:55 CET | News

Citigroup Global Transaction Services, a unit of Citigroup, and MasterCard International have signed a multi year agreement to launch commercial cards in Asia/Pacific.

Under the agreement, Citigroup will provide MasterCard-branded card payment solutions to multinational corporate clients in the region through their Citibank Commercial Cards business. With these solutions, companies and governments will have an easy, convenient way to manage travel and entertainment expenses and pay for key supplies, control employee spending limits, meet cash flow needs, and track business expenses. The program will be launched in Hong Kong and Australia and expanded in Malaysia and Singapore. The Citibank Commercial Cards program, with MasterCard-branded cards, provides a payment solution that allows a corporation to enhance payment procedures and improve business performance. By streamlining labor and time intensive procurement processes, these solutions save time and money, reduce or eliminate paperwork, allowing management to improve front and back end controls through comprehensive information reporting and flexible authorization options. Implementing a corporate card program could potentially result in savings of up to 50% per year for a corporation. Clients may use the card program for high frequency, low-quantum spending (for items such as office supplies or spare parts) and the program is popular with users due to its simplicity and broad acceptance. With it, employees can make purchases easily, without the complications involved in securing purchase orders or checks. Citibank Commercial Cards business offers card programs in over 30 countries used by over one million corporate and government cardholders. Corporate and government clients manage their programs via a robust set of management and reporting tools globally which include standard and dynamic reports, online analytical processing of the Citibank® Global Data Repository, online statements and invoices and file delivery. These industry leading analytical tools are available in each launch country to ensure that Citibank Commercial Cards multinational clients have a globally consistent product set, regardless of the region where they are located.

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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce