Citi launches prepaid solutions

MANILA, Philippines - Citi has launched customized Citi Prepaid Services in the Philippines. Citi Prepaid is a new product aimed at delivering customized prepaid card solutions for corporate and public sector clients looking for a more efficient and convenient ways to deliver payments.

The Philippines is the second country in the Asia Pacific region, after Australia, to offer this groundbreaking service. Currently, Citi Prepaid Services is available in 18 countries worldwide, including the United States, Canada, United Kingdom, and Germany. To date, Citi Prepaid Services provides solutions to over 1,500 clients, about 40 of which belong to the Top Fortune 100-recognized companies.

Citi country head for the Philippines Sanjiv Vohra said that Citi Prepaid Services is ideal for clients looking for simple, convenient and cost-effective ways to deliver payments.

“Our program provides a safer and better way to pay an individual, and is certainly a more convenient alternative to other forms of payments such as paper checks or cash,” Vohra added.

Citi Prepaid Services offers the use of a custom-branded MasterCard prepaid card, that is pre-funded by the client either for one-time or multiple use, which can be given to any beneficiaries from probationary employees, trainees, dealers or business partners as a form of compensation, incentive, rebate or disbursement.

The program provides many compelling benefits for the user. One is faster payment delivery allowing the user to have immediate access to funds and eliminating the need to carry cash or encash paper checks. 

Another is greater security as the user doesn’t have to contend with lost cash or stolen checks. Enhanced convenience and flexibility is also offered to the user as he can either use the prepaid card to withdraw cash or swipe it at thousands of MasterCard partner-merchants in the country.

Apart from introducing convenience to corporate and public sector clients, Citi Prepaid Services also provides extended branding for clients through fully custom programs that enhance and complement brand communications.