New York Amway Corp., a worldwide leader in direct selling, has selected Citi Prepaid Services for the enhancement of its electronic payment process in North America. Citi will provide an efficient, branded electronic payment solution, which includes an AMWAY™ Prepaid Visa® Card in the United States and an AMWAY Prepaid MasterCard® Card in Canada. This account offers an alternative to paper checks for bonus payments to Amway Independent Business Owners (IBOs).
Citi Prepaid Services delivers custom electronic payment programs that help organizations reduce costs, drive optimization and increase program effectiveness. With this new electronic payment solution, IBOs will have access to a personalized AMWAY Visa card (U.S.) and an AMWAY MasterCard card (Canada), custom online account management resources, and a dedicated toll-free, 24/7, multilingual customer service team.
Amway IBOs will no longer have to wait several days for their bonus checks to clear to redeem their funds. Instead, they will have immediate access to their payment on the day the bonus is issued. The AMWAY Visa card and the AMWAY MasterCard card can be used to make purchases in stores, online, by phone and at ATMs at millions of locations worldwide, wherever Visa and MasterCard debit cards are accepted.
"We're thrilled to have such a strong relationship with an industry leader like Amway," said John Kohari, Citi's Global Head for Prepaid Cards. "True to their reputation, Amway is demonstrating the value they place on their distributors' experience by providing much faster access to their bonus payments."
Citi Prepaid Services, a division of Citi's Global Transaction Services, is a leading provider of innovative corporate prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid's custom programs for all types of payments including compensation, promotions and disbursements. For more information, please visit www.citiprepaid.com.
Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citigroup's Global Transaction Services business supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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