Citi Treasury and Trade Solutions (TTS) has announced enhancements of its WorldLink Payment Services’ cross-currency payment capabilities.
The improvements include:
- An expanded automated clearing house (ACH) offering, almost double the number of same day and next day available currencies.
- A strengthened exotic currency offering.
- An increase of global access to 140 currencies to further enable and support the evolving needs of global clients
The group commented that many global clients make recurring low value, high volume payments to key markets. Organisations also need the flexibility to access global markets quickly. Citi has responded by expanding the WorldLink low-value cross border offering (ACH) to include India, Mexico and Poland and making available 13 additional funds transfer currencies for same day and / or next day settlement.
Making local currency payments into rapidly developing economies is a key requirement for expanding companies. So that clients can benefit from faster settlement times and more efficient execution, WorldLink has increased the ease of making payments into Malaysia, Haiti and Bermuda.
In addition, WorldLink continues to expand its global footprint, by adding Aruban florin (AWG), Congolese franc (CDF), São Tomé and Príncipe dobra (Db) and Turkmenistani manat (TMT) as new funds transfer currencies and Kuwaiti dinar (KWD) as an available funding currency.
Global digital payment volumes are set to reach 426.3bin transactions in 2015, according to the World Payments Report 2016 fromCapgemini and BNP Paribas.
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