Coca-Cola implements Citi mobile collections in Korea

Coca-Cola’s Korean bottling partner moves away from physical cash collection to a mobile-based settlement system.

Coca-Cola Beverage CCB, the Coca-Cola Company’s Korean bottling partner, has implemented a mobile collections solution from Citi’s global transaction services GTS business. According to the bank, the solution will eliminate the need for cash collections and make CCB’s receivables process more efficient.

Each month, CCB conducts over 200,000 cash transactions with its retailers, requiring a significant investment in time and effort, while being prone to errors and security issues. Following the implementation of the mobile collections solution, CCB has moved away from physical cash collection to a mobile-based settlement. This solution, which is being made available in a number of key markets to serve Citi’s clients across the...

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