Citi India announces the launch of Citibank® Commercial Cards designed for Indian corporates. It is a comprehensive expense management tool with a unique, chip-embedded commercial card for enhanced security of corporate clients.
The product is supported by a powerful global expense data management function and offers world-class business payment services enabling Indian companies to strengthen their financial operations and control over expenses.
Citi Global Transaction Services India Head Ashish Bajaj said, "About 3,000 of the world's largest companies use Citibank Commercial cards to manage their expenses and we are delighted to introduce our customers in India to benefit of this platform."
The Citibank Commercial Cards offer distinct and unique value propositions for corporate clients by providing the services like automated reporting capabilities, specialized travel management solutions, greater control and visibility of expense, financial savings, unsurpassed acceptance and global service network.
Commenting at the launch, V Dinesh, Product Head of Trade and Treasury Solutions, Global Transaction Services, Citi India, said, "Indian companies are increasingly looking for solutions that streamline expense management and save costs. We are proud to launch India's first chip-based corporate card with superior fraud protection capabilities and global acceptance across Visa and MasterCard merchants."
Citibank Commercial Cards are the first genuine globally accepted corporate cards branded by both VISA and MasterCard in India.
"Today's corporations need payment solutions that help them to better manage expenses and provide analysis that leverage their buying power with suppliers. We are delighted that Citibank is launching its world class Commercial Cards in India integrating award-winning expense management tools from MasterCard", said Matthew Driver, Senior Vice President and General Manager, Global Accounts, AsiaPacific, Middle East and Africa, MasterCard Worldwide.
Santanu Mukherjee, Visa's country manager, South Asia, said, "Visa Commercial Solutions provide businesses and governments with the tools they need to help streamline their payment processes, increase business expenditure visibility and help to reduce administrative costs."
Earlier Citibank had also launched commercial cards in Australia, Hong Kong, Japan, Korea, Singapore, Taiwan and Malaysia. Globally, these cards have been issued to more than 3,000 companies in 45 countries. This product is launched in India in response to the growing demand of the worldwide financial services.