Citi Launches SEPA Instant Payments in Europe
The launch will provide clients with the ability to pay to and receive from 36 SEPA countries instantly. The offering allows SEPA Credit Transfers to be made within seconds, 24/7 and funds available to recipients immediately. Payments can be made to and received from SEPA Instant participating banks located anywhere within the 36 country SEPA zone.
The new offering provides clients with a single point of access through Citi’s platforms, CitiConnect® for Files, CitiConnect® API and CitiDirect®, for executing Instant Payments. With standardized connectivity platforms, clients will benefit from a scalable solution that can facilitate rapid global expansion within a consistent architecture.
Businesses will be able to use SEPA Instant Payments for a wider range of use cases to drive business growth and efficiency, including on-demand payments. The continued growth of ecommerce business and direct-to-consumer business models make Instant Payments more relevant than ever. The new solution offers corporates greater choice and flexibility in payment methods, with a frictionless and real-time payment instrument.
In addition to SEPA, the bank supports 29 other markets globally for Instant Payments. Citi’s Instant Payments capabilities can now reach over 60 countries around the world.
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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