CUSTOM SOLUTIONS AND CITI PREPAID SERVICES ENTER INTO AGREEMENT TO PROVIDE PREPAID SOLUTIONS
London, Paris - October 14, 2010 – Citigroup’s Global Transaction Services business has today announced that Citi Prepaid Services has entered into a Preferred Member agreement with Custom Solutions, a specialist in marketing services, consumer promotions fulfilment, and incentives solutions, to provide branded Visa prepaid cards in Europe. Custom Solutions will be the inaugural member of Citi Prepaid’s Preferred Member program in France.
By leveraging Citi’s leading corporate electronic payments platform and full end-to-end capabilities, including issuing, transaction processing, delivery and multi-lingual customer service, Custom Solutions’ clients will be able to deliver incentive payments using a customised Visa prepaid card more effectively and conveniently than before. Through this innovative prepaid card solution and market-tested implementation methodology, Custom Solutions and Citi Prepaid Services are very well positioned to meet the evolving goals of French and European clients to transition from outdated incentive payments such as cheques or vouchers.
Cedric Reny, Co-founder, Chairman and CEO of Custom Solutions, said, "Custom Solutions is proud to announce this strategic and innovative agreement with Citi. Our Preferred Membership will give major Business to Consumer brands a wonderful opportunity to implement in France an innovative and premium cash back solution in the field of incentive and loyalty programs. This new solution will also bring consumers closer to their brands through a fully customised and dedicated reward program."
Jay Hershman, EMEA Prepaid Sales Head, Citi, said, "Citi is delighted to announce that Custom Solutions has become a Preferred Member as a part of our strategy to expand Prepaid in France. Our prepaid card solution will efficiently complement Custom Solutions’ existing premium suite of services, bringing additional value to clients’ consumer promotions. The integrated branding and messaging of our solution will drive delivery of consumer incentives payments with measurable impact."
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, 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. Additional information may be found at www.citigroup.com or www.citi.com.
About Global Transaction Services
Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2010, it held on average $320 billion in liability balances and $11.3 trillion in assets under custody. For more information on Citi’s Global Transaction Services, visit www.transactionservices.citigroup.com/transactionservices/home/
About Citi® Prepaid Services
Citi Prepaid Services is a leading provider of innovative corporate prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid’s custom programs for all types of payments including compensation, promotions and disbursements. For more information about Citi Prepaid Services, visit www.citiprepaid.com.
About Custom Solutions
Founded in 1997, Custom Solutions is a French leading provider of added value services in operational marketing with strong credentials on High Tech and other consumer goods sectors. Based on its historical core businesses on both incentive programs and marketing logistics, Custom Solutions has been implementing in the recent years a global services approach through the development of strategic expertises in Licensing, Web agency, and CRM. Thanks to its innovative approach, Custom Solutions enjoys a prestigious client portfolio of 250 top brands including Sony, Samsung, LG, Canon, Philips, Warner Bros, Orange, Danone, Nestlé, Kellogs, Carrefour, Michelin, Rain Bird, etc.
Custom Solutions is listed on Alternext Paris, member of the Group NYSE Euronext. (www.customsolutions.fr).