Tech UPTechnologyCitibanamex launches an online payment solution: Spring by CitiMR

Citibanamex launches an online payment solution: Spring by CitiMR

Citibanamex, through its Treasury and Trade Solutions (TTS) area, revealed its new online payment processing solution for its institutional clients, called: Spring by CitiMR.

“The payments landscape is evolving rapidly and frictionless digital experiences remain paramount to contributing to customer satisfaction,” said Gabriel Kirestian, LATAM Head of Payments & Receivables at Citi.

This new digital tool provides access to payment gateway technology, specialized payment methods, settlement of funds, reconciliation and reports at the local level. Additionally, it enables customers to accept payments online with a wide range of payment methods, including credit and debit cards, in partnership with Evo Payments, as well as e-wallets and bank transfers.

By offering a full range of features, Spring by Citi helps businesses scale their transactions more securely and with less risk. This payment solution increases transparency and visibility of the life cycle of a transaction and offers centralized reports on all payment methods to automate reconciliation.

Main advantages of Spring by Citi™:

  • Payment presence: allows customers to access the most relevant payment methods through a single provider.
  • A broader cash management integration: optimization of working capital with payment solutions, funds settlement and liquidity management.
  • Centralized relationship: optimization in the processes of implementation and management of the relationship.
  • Local presence: Provides businesses with experience and knowledge of local markets.
  • End-to-end reporting and reconciliation: Increase transparency throughout the payment lifecycle and automate reconciliation.

Spring by Citi brings value to all organizations by integrating consumer payments with treasury management, bringing together the needs of corporate treasury, e-commerce teams, and business teams.

“Spring by Citi is an important part of Citi’s ongoing commitment to providing innovative payment solutions,” Kirestian said.

It should be noted that Spring by Citi was developed and launched in record time, going from the idea generation process to launch in 18 months, using Design Thinking, development and Agile methodologies. The solution was initially launched in 2020, during the COVID-19 pandemic and customers’ shift from their physical sales channels to online.

Spring by Citi is now available in Mexico, Brazil, the United States, Canada, the United Kingdom, Ireland, Germany and the Netherlands.

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