cadooz AG Joins Citi® Prepaid Services' Preferred Member Reseller Programme
London, Frankfurt - May 31, 2011 – Citi Global Transaction Services announced today that Citi Prepaid Services will provide cadooz AG ("cadooz"), a specialist in reward and incentive systems, with branded Visa prepaid cards in Germany under Citi Prepaid's Preferred Member reseller programme which recently launched in Western Europe.
As a Preferred Member, cadooz will be able to access Citi Prepaid's full suite of prepaid products, allowing it to provide its clients with a single end-to-end fulfilment and payment solution. The Preferred Member programme includes the provision of comprehensive sets of marketing materials, ongoing sales support and employee training to enable cadooz to effectively incorporate Citi Prepaid Services' payments products within its solution set.
By leveraging Citi Prepaid Services' leading corporate electronic payments platform and full end-to-end capabilities, including card issuance, transaction processing, delivery and multi-lingual customer service, cadooz's clients will be able to deliver incentive payments using a customised Visa prepaid card in an effective and convenient manner.
cadooz and Citi have recently developed a variety of prepaid card solutions, including gift cards, fuel cards, restaurant cards and travel expense cards. Through these innovative prepaid card solutions and market-tested implementation methodologies, cadooz and Citi Prepaid Services are well positioned to meet the evolving needs of German clients to migrate from outdated incentive payments methods such as cheques, vouchers or bank transfers.
Florian Welsch, Member of the Board for cadooz AG, said "cadooz AG is proud to have found a strong partner like Citi Prepaid Services for our sustainable voucher and incentive system. Together with Citi, we will lead our branded Visa Prepaid cards successfully onto the European market."
Jay Hershman, EMEA Prepaid Sales Head, Citi, said, "Citi Prepaid Services is delighted that cadooz AG is part of our Preferred Member reseller programme. Through this new relationship we will extend our prepaid cards solution program to provide a comprehensive and more efficient platform for branding and marketing communication to companies using prepaid cards for incentive payments."
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.
Global Transaction Services, a division of Citi'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 first quarter of 2011, it held on average $355 billion in liability balances and over $13 trillion in
assets under custody.
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 programmes 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 use Citi Prepaid's custom programmes for all types of payments including compensation, promotions and disbursements. For more information about Citi Prepaid Services, visit www.citiprepaid.com.
About cadooz AG
cadooz AG is a specialist for vouchers and reward systems, particularly in the German and European market. The products and solutions are used by companies in all sectors for sales incentives, customer loyalty and customer acquisition campaigns, as well as employee motivation. The wide selection of product offers ranges from universal (BestChoice) and experience vouchers (ExperienceChoice) to tax-exempt vouchers (MovieChoice) and bonus point solutions. Over 2,500 companies from a range of sectors use cadooz AG's innovative concepts for vouchers and reward products as effective incentives and intelligent marketing. Continuously increasing numbers confirm cadooz AG's successful business model since its founding in 2000.