Citibank® Purchase Card
The Citibank® Purchase Card enables government agencies and organizations to streamline the procurement process and improve overall efficiency. With its extensive built-in controls and data capture capabilities; the Citibank Purchase Card helps our clients reduce costs while providing access to timely, centralized information. Available as a MasterCard® or Visa® card, the Citibank Purchase Card can be used for any number of goods and services.
But that is not all. Because the success of your purchasing program lies in the details, knowing when, where and how much your agency/organization spends. Citi offers the most comprehensive and flexible transaction information available. The details we deliver will provide you with valuable negotiating power for dealing with your suppliers.
Data Management and Reporting
The Citibank Purchasing Card program offers a host of information management solutions that make it easier for you to comply with agency/organization and government policies, better understand spending patterns and negotiate with vendors, with:
- Standard Reports: Monthly, quarterly or annual reports, designed to meet your management and accounting needs
- Citibank® Custom Reporting System: An easy-to-use application that lets you customize reports from more than 600 data elements
- Citibank® Electronic Reporting System: For receiving and managing files and reports online
- CitiDirect® Card Management System: Advanced technology for online card program administration, management and reporting
- Citibank® Online Statements: Online access to account statements for streamlined review and payment
Ongoing Consultative Support
A dedicated account team will create a program to meet your needs, or re-engineer and expand an existing one. Plus, your cardholders will enjoy round-the-clock access to knowledgeable customer support from anywhere in the world.
An industry leader, Citi offers value-added features and benefits that surpass standard purchasing card programs – providing greater convenience for your employees and better control for you, including:
- Acceptance at over 22 million locations worldwide and cash access at more than 800,000 ATM locations
- Authorization controls to manage and control employees' spending
- Merchant category code definitions, limiting use to approved vendors
- The ability to capture and report on supplemental data from the point-of-sale
- A declining balance capability—for short-term expenses such as relocation, uniform allowances, special events and unique projects, or for emergencies/unforeseen situations
In addition, the Citibank Purchase Card creates a more cost-effective, streamlined purchasing and payment process – enabling you to replace individual vendor payments and hundreds of separate invoices with one central payment to your supplier.
|Average Cost per Transaction||Average Time per Transaction|
|Pre-Purchasing Card Implementation||$83.09||54 minutes|
|Post-Purchasing Card Implementation||$22.98||14 minutes|
Your suppliers will also benefit from:
- Reduced DSO (Days Sales Outstanding) and increased cash flow since they receive payment from Citi in two days
- Assured payment—removes the burden of invoicing and collections