Cards used for high-frequency, low-quantum payments

Citigroup and Mastercard launch commercial card programme for multinational customers.

Citigroup's cash management division and Mastercard have signed a multi-year agreement to provide Citi's corporate clients with a simpler way to manage high-frequency, low-quantum spending. Commercial cards issued to the bank's customers will be used for travel and entertainment expenses, and to pay for key supplies such as office stationery and spare parts. The cards remove the need for securing purchase orders or cheques.

The solution, which is being launched in Australia and Hong Kong and...

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