Citi has announced that its Global Transaction Services business’ EMEA platform for Citi prepaid services is going to be launched in the United Arab Emirates after going live in Germany, Belgium, Portugal, Switzerland and Ireland in early June.
Citi says that its prepaid services will provide these new markets with customised prepaid card solutions, in pounds sterling, euro, Swiss franc and US dollar, for corporate and public sector clients looking easier ways to deliver payments, including payroll, consumer rewards and employee incentives that the recipients can then use worldwide.
Having originally launched its payment solutions in the United Kingdom in November 2008, Citi will continue to expand this offering across the EMEA region in 2009 with a view to launching in the United Arab Emirates next.
Rajesh Mehta, managing director and regional head for treasury and trade solutions for Europe, the Middle East and Africa at Citi, says: “These solutions further reinforce Citi prepaid’s position as a dynamic tool and delivery platform and the top choice for companies initiating payroll, consumer rewards, sales incentives and government benefits. The roll out of these state-of-the-art products across these five new markets underscores Citi’s commitment to our clients in the region and our vision to be a one-stop provider of customised services allowing our clients greater flexibility across borders.”
Citi claims its prepaid services have transformed payments for payroll, consumer rewards, sales incentives and government benefits. The service is said to turn paper dependent, inefficient and costly processing into an electronic solution, already serving 40 of the fortune 100 and over 1,300 corporations globally.
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