UK public sector looks to prepaid

Citi developing framework agreement to offer prepaid to national, regional and local public sector agencies

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Citigroup's Global Transaction Services business is developing a framework agreement to offer Prepaid Solutions to the 3,300 national, regional and local public sector agencies throughout the United Kingdom.

The offering is under the PrePayment Card framework agreement developed by Buying Solutions, the national procurement partner for UK public services.

UK Public sector agencies will benefit from simple, convenient ways to deliver a variety of payments to their beneficiaries.

Citi Prepaid Services is a global specialist in replacing social benefit cash and check payments with prepaid funds that are easily accessible by beneficiaries.

Prepaid solutions can be used to deliver pensions, disability, tax credits, housing benefits, childcare, personalized healthcare, asylum payments, student loans, petty cash, emergency and disaster relief payments and equipment under the Simple Aids to Daily Living program that provides basic equipment to help people maintain their independence.

Rajesh Mehta, Citi's Head for Treasury and Trade Solutions for Europe, the Middle East and Africa, said: "This award by Buying Solutions underscores our continued investment in the prepaid services businesses. We are delighted to be part of the Buying Solutions framework agreement and are adamant that clients will benefit from innovative program reporting, dedicated client service teams, and award winning customer service."

Neil Kitchen from the Buying Solutions ePayments Team added: "The savings in using the framework agreement are made in both time and procurement costs, with very simple project documentation and reduced evaluation costs."