Built in partnership with Mastercard, the Travel Agency Card by Citi is designed to specifically secure, streamline and automate global travel payments by:
- Maximizing payment acceptance by paying suppliers using their preferred virtual card product
- Optimizing cash flow, leveraging a Citi credit line to maximize working capital benefits
- Reducing FX fees by paying suppliers in their local currency
- Automating payment creation and reconciliation
The new Travel Agency Card by Citi complements Citi’s existing local virtual card issuance capabilities in 46 countries and 30+ currencies globally, including markets such as Brazil, India and South Africa, all of which are accessed via Citi’s global proprietary API technology. This combined with Citi’s flexible credit funding model and dedicated 24/7 support make Citi the virtual cards issuer of choice for the travel industry, and the ideal partner to help global travel buyers grow their business.
“The events of the past few years have enormously impacted the travel sector, and as these professionals continue to navigate disruption related to the pandemic, we are empowering global travel buyers with greater flexibility to more effectively run their businesses,” says Gonca Latif-Schmitt, Global Head of Commercial Cards, Citi Treasury and Trade Solutions. “We are excited to expand our focus on wholesale payments and products in collaboration with Mastercard, as we continue to help clients grow their businesses and make Citi the partner of choice for the travel sector.”
“Providing organizations across the travel sector with the tools they need to grow is more important than ever” said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. “By leveraging Mastercard’s virtual card technology within its products, Citi’s travel agency customers will gain greater control and enhanced protection over their wholesale payments which will enable them to drive efficiency across their operations and focus on future growth”.
The Travel Agency Card by Citi, in association with Citi’s world-leading domestic and cross-border payments capabilities, lending solutions, FX products, and cash management services, creates a truly powerful combination to help the Travel Industry thrive. The Travel Agency Card by Citi is available to all travel buyers, from online travel aggregators, travel management companies and corporate T&E departments. Additional information about the Travel Agency Card by Citi can be found here.