Dandelion And Citi Announce Partnership To Enhance Cross-Border Payments
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Dandelion and City have announced a partnership to improve cross-border payments. Both parties have agreed to use Dandelon’s expansive digital wallet network and Citi’s cross-broader payment system, WorldLink Payment Service.
The partnership will empower Citi’s institutional clients to provide instant payments into digital wallets globally. According to the announcement, the new features will be available across multiple regions, including Colombia, Bangladesh, Indonesia, and the Philippines. However, plans are to extend the service to other regions in the future.
The Partnership Will Enhance Citi’s WorldLink Payment Services
Citi says the partnership comes with several benefits. Apart from enhancing its offerings to institutional clients, it will also enable the firm to make faster, cost-effective business-to-consumer (B2C) payments.
The solution will also address a growing need for B2C payments into the wallets of both corporate and public-sector clients. These include compensation payments, customer returns, social benefits, expense reimbursements, and payroll. It will also include seamless transfers for freelance workers.
The solution will use Citi’s top payment networks, which process more than 11 million instant payments daily. The networks also processed over $380 billion in cross-border transactions last year.
Emanuela Saccarola, Head of Cross-Border Payments at Citi, commented on the partnership. He noted that the firm’s partnership with Dandelion underlines Citi’s commitment to delivering comprehensive and innovative payment solutions that meet the growing needs of its clients globally.
He added that the firm will allow its clients to reach new markets and adopt new payment methods following the integration of its global payment infrastructure with Dandelion’s robust digital wallet network.
It reinforces Citi’s position as a global player in providing real-time payments. Saccarola noted that the collaboration will help unlock transparency, cost efficiency, and speed as it continues to deliver premium payment services to its global clients.
The collaboration will enhance Citi’s WorldLink Payment Services, allowing the firm to facilitate cross-border payments across more than 135 countries.
Also, it will enable Citi to easily make payments with debit cards and digital wallets, thanks to its partnerships with several card networks and digital wallet providers.
Dandelion Wants To Expand Its Payment Services Through Collaboration
With Citi’s WorldLink system, the firm can empower clients to send near-instant payments to more than 150 digital destinations, including debit cards, mobile wallets, and bank accounts. Citi is also using other instant payments, such as 24/7 USD clearing and Citi@ Token Services, ensuring clients have a wide range of payment options to meet their needs.
Dandelion is a leader in financial and electronic payment services covering over 63 countries through digital wallets. The firm’s strong footprint and network place it ahead of others in the industry. With this collaboration, it hopes to leverage Citi’s broader customer reach and expand its services globally.
