The partnership is expected to provide Citi’s clients with a service for managing transportation accounts payable (AP). Thus, this processing and payment capability is set to be part of Citis working capital and supply chain management offering.
The Syncada B2B payment and invoice processing network, a joint venture of electronic payments network operator Visa and financial services provider US Bank, allows corporations and governments to process and track invoices, make and receive payments and have payables or receivables financed through local and global financial institutions.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers cash management, trade and securities and fund services to multinational corporations, financial institutions and public sector organizations globally. Citigroup’s Global Transaction Services currently supports over 65,000 clients across 100 countries.
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