Citi Refine Card Spend Program

Citi enhanced its spend analytics tool, “Citi Working Capital Analytics” (CWCA) refined its Citi Commercial Card programs. The CWCA in-depth consultative service analyzes an organization’s spend data to provide comprehensive visibility into their overall expenses. Clients receive actionable reporting and benchmarking data to help them better understand how and where they are spending. These enhancements provide additional insights enabling Citi clients to capture more spend using Citi Virtual Card Accounts (VCA). The global payment solution allows companies to create single-use 16-digit plastic-less account numbers for vendor payments. Transaction-level controls, enhanced workflow tools and robust reconciliation data allow clients to further optimize their Purchasing Card programs.

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Panini Showcases RDC at National Conference

Panini is sharing their remote deposit capture (RDC) expertise directly with business organizations, showcasing its remote deposit innovation. Panini has been independently confirmed as the market share leader in the RDC industry for the past five consecutive years, and offers a full range of innovative hardware and asset management software to complete any remote deposit solution. Its scanner management solution, “Panini Avantor,” and their remote deposit check scanning products including the “Panini I:Deal,” “Panini wI:Deal” and “Panini Vision X.”

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Citi Expands Mobile Card Access

Citi expanded its GTS Mobile functionality, with new differentiated offerings for its Commercial Cards and Treasury Services clients. Citi Commercial Cards, responding to growing demand from clients around the world, announced the availability of mobile alerts for cardholders and Program Administrators (PAs) in Colombia, India, Singapore and now, the United States. Citi’s corporate cardholders can manage their expenses and keep track of their corporate spend regardless of day, time or their location via their mobile devices. With this, the mobile messaging now offers Citi’s US corporate cardholders the ability to receive four Short Message Service (SMS) alerts indicating Statement is ready to be viewed; Payment is due; Payment is past-due; and Payment has been received.

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Benefit Concepts Improves Flexible Spending Account

Benefit Concepts has launched a new and improved Flexible Spending Account System, simplifying and updating the substantiation process for Stored Value Card (debit card) expenses. Stored Value Cards are very convenient and are used to pay for out of pocket health care expenses. Most of the time there are no further administrative requirements for the participating employee. However, about 10 to 15% of the time the FSA participant is asked to submit proof for the card expense.

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3i Infotech & Online Resources Ink Reseller Agreement

3i Infotech Billing & Payments software and solutions for the end-to-end corporate revenue chain, and leading financial technology provider Online Resources Corporation, announced a reseller agreement that will deliver a complete electronic payment and processing solution to customers. With this, the companies will integrate Online Resources’ “Payment Advantage” solution, allowing electronic payments on a one-time basis or through enrollment, with 3i Infotech’s presentment and processing solutions. The new relationship is part of 3i Infotech Billing & Payments’ Center of Excellence and core to its ongoing channel management consolidation strategy designed to optimize client revenue chains through improved efficiency, simplicity and cost controls.

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PrepaYd Wireless to Present at Industry Summit

PrepaYd Wireless Mobile Virtual Network Operator (MVNO) and a wholly owned subsidiary of PrepaYd will be presenting a Case Study on Mobile Financial Services at the MVNO Industry Summit USA November 8-9 in Dallas. PrepaYd Wireless wireless service provider offers Mobile Financial Products, as its parent company PrepaYd is an established Tier 1 service provider of prepaid debit cards and other financial products that are critical components in providing Mobile Financial Services.

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Citi and the NeuGroup Principles Define Cash Management

Citi and The NeuGroup year-long collaboration identified core treasury and cash management principles to guide any treasury department aspiring to become world-class. The joint research program between Citi’s Global Transaction Services and NeuGroup’s Global Cash and Banking Group (GCBG) was comprised of 25 Fortune 500 senior treasury practitioners from across a variety of industries. The partnership subsequently developed principles across 15 treasury operations and cash management categories to aid companies in defining what a world-class treasury operation looks like and help them determine when they have achieved their goals. These focus on what is needed to drive success and covers categories from organization structure to liquidity optimization, operational efficiency, and technology.

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eBay Launches Shopping Destination for Charity

eBay launched its “eBay.com/celebrity” shopping destination website emphasizing celebrity experiences, memorabilia and merchandise with philanthropic causes. As part of eBay’s charitable platform eBay Giving Works, eBay Celebrity establishes a differentiated experience for the shopping enthusiast and cause-oriented consumer by aggregating relevant celebrity content, charity auctions, and the breadth and selection of related products that are unique to eBay. Celebrity participants at launch include: Christina Aguilera, Jeff Bridges, Michael Cooper, Robert Duvall, Jimmie Johnson, Wladimir Klitschko, Sienna Miller, Hayden Panettiere, Katy Perry, Brad Pitt, Troy Polamalu, Tarina Tarantino, and Joe Walsh.

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German Agency Launches Citi Cashless Pilot

The Technical Relief Agency of the German government started a pilot project in the area of procurement with Citigroup Global Transaction Services (GTS) to increase its payment mechanism efficiency. With this, the procurement cards were issued to local relief workers, allowing them to purchase at local THW providers without using cash. The THW plans to maximize the number of cashless local purchases over the medium term. Payment via a procurement card enables the agency to record purchases automatically and centrally analyze them. If the pilot project is successful, the THW plans to roll out the cooperation nationwide to all 668 local branches in Germany.

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Western Union Completes Travelex Payments Acquisition

The Western Union Company has completed the acquisition of Travelex Global Business Payments. The combined business will offer its more than 95,000 business clients – mostly small and medium-sized enterprises (SMEs) – immediate scale and expanded global reach in the estimated $24-billion international SME cross-border business payments market. Business customers are able to send cross-border payments in over 140 currencies from 18 countries, with more countries to be added in 2012. Western Union plans to integrate Travelex Global Business Payments into the Business Solutions division in the coming months, which adds over 1,000 new employees, bringing global employment for the Fortune 500 company to over 8,000.

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IT Governance Demos PCI DSS classroom and online training

IT Governance PCI and information security training provider is offering its PCI Foundation Training Course, allowing organisations to kick-start PCI compliance project before the end of 2011 . Delegates, who book onto the December course, will save GBP100 and receive a free single user PCI e-learning license and can sample the effectiveness of using e-learning to deliver the mandatory PCI staff awareness training. IT Governance also offers a PCI DSS Online Staff Awareness Course. This e-learning course is designed to increase employees’ awareness of the PCI DSS requirements, and to provide clear and simple explanations of what companies and individual employees must do to meet the requirements of the current version (v2.0) of the Standard.

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