MANILA, Philippines - MasterCard and Citi redefine payment convenience with the launch of Citi Prepaid MasterCard, an innovative electronic payment solution for businesses. Custom-branded, the Citi Prepaid MasterCard offers simple, convenient and cost-effective ways to deliver payments by replacing traditional and inconvenient forms of payments such as paper checks or cash, as well as related administrative, production and distribution costs.
Sanjiv Vohra, Citi country head for the Philippines says, “Citi Prepaid MasterCard reflects Citi’s commitment to bring innovative financial solutions to clients looking for simple, convenient and cost-effective ways to deliver payments and eliminate traditional payment methods of disbursing cash or cutting checks. This trendsetting service from Citi and MasterCard is poised to become the benchmark in the way payments are conducted in the Philippines.”
Citi Prepaid MasterCard is ideal for corporations that issue high volume, low to medium payments to individual beneficiaries for payroll, sales incentives, employee rewards, customer rewards, consumer rebates, and emergency payments, among others. Target industries would be business process outsourcing (BPO) companies, consumer electronics and auto-financing companies. .
At a presentation, Thore Vestergaard, director for Citi Asia Pacific’s Global Transaction Services explained how Citi Prepaid MasterCard brings flexible payment solutions to public and private organizations: “It offers custom electronic payment solution in the form of a prepaid card that is pre-funded by the client, either for one-time or multiple use, to provide automated disbursement of payroll, rebates, and incentive programs to employees, dealers or business partners.”
Vestergaard adds that Citi Prepaid MasterCard is basically branded money that provides extended branding and marketing presence for the client, while increasing customer or employee loyalty. And because it’s from Citi and MasterCard, users can expect compelling benefits. “It provides faster payment delivery so the user has immediate access to funds sans the need to carry cash or encash paper checks.
“The user also experiences more convenience and flexibility as he can either use the card to withdraw cash or swipe it at MasterCard partner-merchants,” explains Vestergaard.
With Citi Prepaid MasterCard, users can also expect utmost convenience and security since MasterCard is accepted at more than 30 million merchant locations. Customers can also enjoy communications and support via online payment tracking, online and phone account management, 24/7 multilingual customer support and email alerts.