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For Immediate Release Citigroup Inc. (NYSE: C)

Travel Agency Card by Citi Empowers Global Travel Buyers with Greater Flexibility and Control

October 17, 2022

Dublin – Citi has launched the Travel Agency Card by Citi, its new wholesale travel virtual card product, aimed at providing smarter payments for the global travel industry. Built in partnership with Mastercard, the Travel Agency Card by Citi is designed to specifically secure, streamline and automate global travel payments by:

  • Maximizing payment acceptance by paying suppliers using their preferred virtual card product
  • Optimizing cash flow, leveraging a Citi credit line to maximize working capital benefits
  • Reducing FX fees by paying suppliers in their local currency
  • Automating payment creation and reconciliation

The new Travel Agency Card by Citi complements Citi's existing local virtual card issuance capabilities in 46 countries and 30+ currencies globally, including markets such as Brazil, India and South Africa, all of which are accessed via Citi's global proprietary API technology. This combined with Citi's flexible credit funding model and dedicated 24/7 support make Citi the virtual cards issuer of choice for the travel industry, and the ideal partner to help global travel buyers grow their business.

"The events of the past few years have enormously impacted the travel sector, and as these professionals continue to navigate disruption related to the pandemic, we are empowering global travel buyers with greater flexibility to more effectively run their businesses," says Gonca Latif-Schmitt, Global Head of Commercial Cards, Citi Treasury and Trade Solutions. "We are excited to expand our focus on wholesale payments and products in collaboration with Mastercard, as we continue to help clients grow their businesses and make Citi the partner of choice for the travel sector."

"Providing organizations across the travel sector with the tools they need to grow is more important than ever" said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. "By leveraging Mastercard's virtual card technology within its products, Citi's travel agency customers will gain greater control and enhanced protection over their wholesale payments which will enable them to drive efficiency across their operations and focus on future growth".

The Travel Agency Card by Citi, in association with Citi's world-leading domestic and cross-border payments capabilities, lending solutions, FX products, and cash management services, creates a truly powerful combination to help the Travel Industry thrive. The Travel Agency Card by Citi is available to all travel buyers, from online travel aggregators, travel management companies and corporate T&E departments. Additional information about the Travel Agency Card by Citi can be found here.


Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

About Citi Treasury and Trade Solutions:
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry a comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

Media Contact:
Joanna Petty
+353 86 3639914
joanna.petty@citi.com

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