Citi Transaction Services (CTS) has launched a commercial cards programme in China, offering such capabilities to its large corporate and multinational clients.
Citi’s Commercial Cards solution will include the Travel and Expense Card, as well as Purchasing Card, and be available as a renminbi (RMB)-denominated card with China UnionPay, and a US dollar-denominated card with Visa and MasterCard.
Andrew Au, chairman and chief executive officer (CEO) of Citi China, noted that the commercial card complements Citi’s focus to pursue growth across multiple businesses in China. “The launch of the Citi Commercial Card completes the full suite of our cards offering to meet our corporate and consumer clients spending needs, as we strive to be the most innovative and customer focused financial services provider in China,” he said.
On day one of SIBOS, panellists unanimously agreed that doing nothing to modernise payments was no longer safe bet for transaction banking.
On day one of Sibos 2017, Stefan Dab, The Boston Consulting Group led a conversation examining the future of correspondent banking, and specifically the pain points corporate treasurers face in their cross-border payments operations and where technology can be developed to alleviate these.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.