Citi has announced that it’s entering into partnerships with Global Payments and PPRO to help with its Spring by Citi payment offering, according to a release.
Global Payments will provide card processing help and PPRO will give access to local payment offerings within its purview. Spring by Citi is meant to be a consumer payments solution for institutional merchants, so that they can accept a variety of payment methods from customers.
“These partnerships are core to our building an end-to-end offering of transaction banking services, centralized under a single relationship and supported by fintech partners that accelerate the delivery of innovative solutions. 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,” said Citi Global Head of Payments and Receivables, Treasury and Trade Solutions Manish Kohli.
Spring by Citi will leverage the Mastercard payment gateway and let merchants collect payment from cards, electronic wallets and newer methods like request to pay, open banking and instant payments bank transfers.
“We see tremendous client value in joining Citi’s transaction banking proposition with Global Payments’ Unified Commerce Platform. This partnership will provide market-leading innovation to create a frictionless payment experience for Citi’s multinational clients,” said Jeff Sloan, CEO of Global Payments.
Citi said merchants want a payment solution that is simple and reliable, and that will help build customer loyalty. They also want to push revenue while lowering costs. Spring By Citi, the company said, does just that.
“While commerce has become more global, payments have become increasingly local. Delivering centralized access to local payment methods on a global scale helps Citi, and in turn their clients, reach more consumers. We’re very excited to partner with Citi on simplifying an increasingly complex payments landscape,” said Simon Black, CEO of PPRO.