Amway, a direct selling company, has selected Citi Prepaid Services, a division of Citi’s Global Transaction Services, for electronic payment processing in North America.
Under the terms of the agreement, Citi will provide an electronic payment service, which include an Amway prepaid Visa card in the US and an Amway prepaid MasterCard card in Canada.
In addition, via the new electronic payment service, Amway Independent Business Owners will gain instant 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 locations worldwide, wherever Visa and MasterCard debit cards are accepted.
Global Transaction Services (GTS), a division of global financial service provider Citi Group, provides integrated cash management, trade, securities and fund services to multinational corporations, financial institutions and public sector organisations around the world. With a network that spans more than 95 countries, GTS business supports over 65,000 clients. In Q4 2011, the company has registered USD 368 billion in liability balances and USD 12.5 trillion in assets under custody.
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