Citi Treasury and Trade Solutions announced last week it has formed a strategic partnership with Vietnam-based intermediary payment service provider Payoo to facilitate consumer-to-business collections for corporate clients in the country.
Citi reported that under the partnership, its corporate clients in Vietnam will be able to receive real-time payments from their customers for services including utilities, telecommunications, and credit card bills through Payoo’s extensive digital network and physical footprint of over 10,000 brick-and-mortar touchpoints. While sharing more details about the partnership, Debopama Sen, Singapore and ASEAN Head, Citi Treasury and Trade Solutions, stated:
“The collaboration with Payoo is exciting as it complements Citi’s capabilities to deliver last-mile digital solutions to our clients. This is in line with our strategy to leverage the potential of the thriving FinTech ecosystem in Singapore and ASEAN to enhance our client value propositions.”
Manish Kohli, Global Head of Payments and Receivables, Citi Treasury and Trade Solutions, went on to add:
“Citi is actively working with FinTechs around the world to create new services and capabilities on our platforms for the benefit of our clients. These events play an important role in allowing us to engage with the FinTech ecosystem in order to co-create the best solutions for our clients in the digital economy.”