CITI launches innovative prepaid services in TT

Through this innovative prepaid card solution and market-tested implementation methodology, Citi Prepaid Services is uniquely positioned to meet the evolving sales and marketing goals of clients in the region. Citi Prepaid Services enables clients to more effectively and conveniently deliver payments to customers, employees and sales agents via a customized prepaid card.

“In Trinidad and Tobago Citi Prepaid introduces a new payment method, turning the simple act of paying into an experience, branding and marketing opportunity. The cards will both simplify disbursements and add value to relationships that our customers work so hard to build with theirs” says Daniel Pfeiffer, Global Transaction Head for Trinidad and Tobago.

“The launch of the solution is consistent with our corporate goals in Latin America to not only reduce costs and enhance operational efficiencies, but to also increase branding and deliver more impactful payments,” says Solana Cozzo, Global Transaction Services Prepaid Cards Head for the Latin America and Mexico region.

Citi Prepaid Services has revolutionised payments for government benefits, payroll, sales commissions and consumer incentives, converting costly paper-dependent processes into an electronic solution that leading public and private corporations across a variety of industries already rely on. Citi Prepaid Services can help companies drive increased sales by delivering consumer and sales incentive payments that have a measurable impact with comprehensive client branding, enhanced communications and greater visibility into customer behaviour. “In more than two dozen countries around the world (and expanding rapidly), Citi’s Prepaid Cards replace check and cash payments for businesses and government agencies. Prepaid Cards offer superior payment transparency and provide traditionally unbanked beneficiaries with the security and convenience of a MasterCard® or Visa® Card,” says Carlos Castro, Global Transaction Services Cash Head for Latin America and Mexico.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.