According to Citi, its Spring eCommerce and B2B digital payments services have been integrated with its Present and Pay electronic bill present platform.
The measure creates a solitary platform for the fusion of electronic bill presentation and digital payment acceptance, according to a press release.
The new solution enables Citi’s institutional clients to collect payments using a range of U.S. payment methods. It also provides “world-class digital billing capabilities through a single contracting structure” with Citi and a single technology integration, according to a news statement.
Giving customers a completely digital billing experience may be highly challenging and expensive for many organizations, according to Anupam Sinha, head of payments and receivables for Citi Treasury and Trade Solutions North America.
In related news, Citi said on Monday that Walmart has been added to the network of Shop With Points partners for its ThankYou Rewards program. According to a Citi press release, it is the most current in a line of business incentive collaborations for owners of Citi ThankYou cards.
More than 4,700 Walmart locations now offer Shop With Points to Citi cardholders, who may use their points to pay for groceries, toys, electronics, and other goods totaling at least $10.
Walmart joins a number of important eCommerce and retail brands, including 1-800 Flowers, Shell, Best Buy, CVS, and PayPal, as a certified Shop With Points rewards partner.
Citi established a cash concentration capability earlier this month in an effort to fulfill the growing need for real-time treasury management. The capacity automatically transfers money seven days a week.
This institutional client service, known as 7-Day Sweeps, eliminates the need for these clients to physically transfer cash on the weekends and on holidays when automated sweeping is often not done.
