Citi Chooses Global Payments and PPRO as Partners for its New Digital Consumer Payments Business
October 28 2019 - 9:00AM
Business Wire
Citi’s Treasury and Trade Solutions (TTS) announced today that
it is entering into additional partnerships to support the
development of its forthcoming consumer payments offering for
institutional clients -- Spring by CitiSM. Citi will incorporate
Global Payments’ card processing solutions and PPRO’s access to
local payment methods within its holistic offering. The addition of
these partners support Citi’s strategy of building a comprehensive
consumer payments solution, integrated with its market leading
transaction banking proposition.
Announced earlier this year, Spring by Citi will enable digital
commerce for clients by extending Citi’s significant presence and
capabilities offered to institutional clients. Leveraging the
Mastercard payment gateway, Spring by Citi will offer institutional
merchants the ability to collect from a wide range of payment
methods including cards, e-wallets and new and innovative bank
transfers such as Request to Pay, Instant Payments and Open
Banking. In turn, their customers will have access to a wide
variety of payment methods of their choice.
“These partnerships are core to our building an end-to-end
offering of transaction banking services, centralized under a
single relationship and supported by fintech partners that
accelerate the delivery of innovative solutions. It is another
significant step towards our goal of delivering Spring by Citi -- a
client-driven solution that will benefit both our clients and our
clients’ customers,” said Manish Kohli, Global Head of Payments and
Receivables, Treasury and Trade Solutions, Citi.
Institutional merchants are looking for secure, simple, and
reliable solutions that are functionally rich to build lasting
relationships with consumers. They’re also looking for global
consistency and are continuously seeking ways to enhance payments
acceptance, drive revenue and lower costs.
Spring by Citi’s mission is simple: help customer-centric
institutions build seamless experiences that increase sales
conversion while mitigating risk. To that end, Spring by Citi
brings together varying objectives of corporate treasury, payments
and the business, delivering value to each part of their
organization.
Citi’s partnership with Global Payments will help institutional
clients increase payments acceptance and optimize local card
processing. Global Payments is known for simplifying commerce
through their extensive global reach, deep local-market expertise
and cutting-edge payments solutions that position clients for
growth.
“We see tremendous client value in joining Citi’s transaction
banking proposition with Global Payments’ Unified Commerce
Platform. This partnership will provide market-leading innovation
to create a frictionless payment experience for Citi’s
multinational clients,” said Jeff Sloan, CEO of Global
Payments.
Spring by Citi will expand consumer’s payment options to
non-bank channels by partnering with PPRO to provide single-window
access to a growing number of local payment methods across the
world.
“While commerce has become more global, payments have become
increasingly local. Delivering centralized access to local payment
methods on a global scale helps Citi, and in turn their clients,
reach more consumers. We’re very excited to partner with Citi on
simplifying an increasingly complex payments landscape,” said Simon
Black, CEO of PPRO.
Spring by Citi will be further expanding its offering and will
partner with more best-in-class players in the payments space.
Citi Treasury and Trade Solutions (TTS) enables its clients'
success by providing an integrated suite of innovative and tailored
cash management and trade finance services to multinational
corporations, financial institutions and public sector
organizations across the globe. Based on the foundation of the
industry's largest proprietary network with banking licenses in
over 90 countries and globally integrated technology platforms, TTS
continues to lead the way in offering the industry's most
comprehensive range of digitally enabled treasury, trade and
liquidity management solutions.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn:
www.linkedin.com/company/citi
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading pure play payments
technology company delivering innovative software and services to
our customers globally. Our technologies, services and employee
expertise enable us to provide a broad range of solutions that
allow our customers to operate their businesses more efficiently
across a variety of channels in many markets around the world.
Headquartered in Georgia with over 24,000 employees worldwide,
Global Payments is a member of the S&P 500 with worldwide reach
spanning over 100 countries throughout North America, Europe, Asia
Pacific and Latin America. For more information, visit
www.globalpaymentsinc.com and follow Global Payments on Twitter
(@globalpayments), LinkedIn and Facebook.
About PPRO
Leading local payments platform, PPRO, removes the complexity of
cross-border and domestic digital payments by acquiring, collecting
and processing an extensive range of local payments methods for
Payment Service Providers under one contract, through one platform
and one single integration. PPRO supports local payment methods
across more than 100 countries, allowing Payment Service Providers
to expand their merchants’ consumer reach, arrange hassle-free
collection and achieve higher conversion rates. Founded in 2006 and
headquartered in London, PPRO is global financial institute with an
e-money license issued by the British regulatory body FCA. For more
information, please visit www.ppro.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191028005209/en/
Media: Citi Nina Das (212) 816-9267 nina.das@citi.com
Global Payments Emily Edmonds (404) 985-5576
media.relations@globalpay.com
PPRO Elke Woessner-Probst +44- 203-657 4915
elke.woessnerl@ppro.com
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