Citigroup: Expansion of Digital Payments Solution “Spring by Citi” in Asia Pacific Helps Customers Drive Growth of Internet Economy

Hong Kong – Citi, the world’s leading transaction bank, has extended the functionality of its Spring by Citi digital payment processing solution to Australia, Hong Kong and Singapore. Online card and wallet acquiring is now available alongside other forms of online payment acceptance, including ready-to-use instant payments and electronic debits.

Spring by Citi was developed by Citi’s Treasury and Trade Solutions (TTS) business and integrates a wide range of payment methods with back-office cash management systems and processes. It helps corporate clients reach more customers by providing a seamless opt-in experience that increases sales conversion. At the same time, Spring by Citi eliminates the complexity associated with managing local payment methods and mitigates risk.

Australia, Hong Kong and Singapore join Brazil, Canada, Germany, Ireland, Mexico, the Netherlands, the United Kingdom and the United States to enable corporate customers to accept a range full of local payment methods. More Asia-Pacific and global markets will be added in the future. Additionally, Citi now has instant payments capabilities in more than 60 countries around the world, facilitating e-commerce collections in markets such as Australia, Hong Kong, India, Singapore and Thailand in the region. Asia Pacific.

“Asia is at the forefront of the internet economy. It is one of the largest and fastest growing e-commerce markets in the world, where online sales already represent a retail market share than any other region. Asia is also a crucial driver of e-commerce innovation, but the region’s diversity also presents challenges for enterprise customers,” said James Lloyd. , Head of Asia Pacific for Spring by Citi, Treasury and Trade Solutions. “Our goal is to help our customers grow by providing streamlined access to locally relevant payment methods and related services, all in a secure manner. and customer-centric. Spring by Citi is backed by our proprietary network – the largest in the industry, with banking licenses in over 90 countries. – to give customers the tools they need to capture the growth of the evolving Internet economy. We are delighted that Citi customers in Asia, including Singtel, LINE MAN Wongnai and ShopeePay in Thailand, are already using Spring by Citi to facilitate their online sales.”

Spring by Citi supports both consumer-to-business and business-to-business flows. It meets the needs of business development teams by facilitating engaging online experiences and seamless payments that drive sales. Spring by Citi also helps corporate treasury better manage counterparty exposure, while providing a cost-effective way to accept a wide range of digital payments and, by accelerating cash, can improve working capital.

“Citi TTS has a long history of facilitating customer flows both in Asia Pacific and globally. The rapid growth of e-commerce and the emergence of new business models means that we are continually adding to our capabilities. The addition of the online card and wallet acquisition in key markets in the region is the next chapter in the Spring by Citi story,” said Sanjeev Jain, Asia Pacific Head of Payments and Receivables, Treasury and commerce solutions at Citi.” By bringing together consumer-facing payment methods such as cards and wallets in a globally consistent way so that they can be seamlessly integrated into customer-facing websites or apps. e-commerce customers, Spring by Citi makes it easier than ever for businesses in the region to sell online. the world.”

For more information on this payment solution, visit www.spring.citi.com.

About Citi Treasury and Commerce Solutions
Citi Treasury and Trade Solutions (TTS) enables our clients’ success by providing an integrated suite of innovative and customized treasury management and trade finance services to multinational corporations, financial institutions and public sector organizations around the world. Building 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 digital treasury, trade and liquidity management solutions.

Town
Citi, the world’s largest bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, businesses, governments, and institutions with a wide range of financial products and services, including personal banking and lending, corporate and investment banking, securities brokerage, transaction and wealth management services.

Additional information can be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

Media Contact
Harsha Jethnani (852) 2868 7738harda.jethnani@citi.com