Citi partners Global Processing, PPRO to support new payments offering
Citi Treasury and Trade Solutions has announced that it will be incorporating solutions from both Global Processing and PPRO to support the development of its new consumer payments offering for institutional clients.
The new solution – Spring by Citi – has been designed to offer institutional clients the chance to collect from a “wide range” of payment methods including cards, ewallets, instant payments, and open banking.
Global Processing will provide its card processing solutions as part of the new partnership, while PPRO will offer up its access to local payment methods.
“These partnerships are core to us building an end-to-end offering of transaction banking services, centralised under a single relationship and supported by fintech partners that accelerate the delivery of innovative solutions,” says Manish Kohli, global head of payments and receivables, treasury and trade solutions, Citi.
“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.”
Jeff Sloan, CEO of Global Payments, says that there is “tremendous value” in partnering up with Citi for the new venture. Simon Black, CEO of PPRO, adds that delivering centralised access to local payment methods will help Citi and its client reach more consumers.