Citi® Prepaid Card
In today's challenging environment, the inefficiency and costs of paper based payment systems are a significant burden on an organization's resources and bottom line. As leaders of government agencies look to reduce expenses across their operations, electronic payment methods have become an increasingly attractive solution. Citi® Prepaid Services has revolutionized payment delivery across the public sector, transforming paper dependent programs into comprehensive electronic solutions for over 1,200 organizations, including government agencies at the city, state and federal levels. Our stored value solutions have helped agencies achieve significant efficiencies by eliminating the costs and streamlining the resources associated with check issuance, delivery and maintenance. In addition, our solutions create a positive user experience by providing recipients with enhanced flexibility, accessibility and control.
The Solution
Citi Prepaid Services can help government agencies automate all payments to banked and "underbanked" recipients. Through a consultative approach, Citi Prepaid Services delivers a stored value payment option that fits each agency's needs and allows the agency to easily manage multiple programs on one platform.
Widespread Benefits
Our payment solutions provide compelling benefits for your agency as well as your recipients:
- One central tool for disbursement, administration and reconciliation of payments
- Eliminates lost/stolen checks and escheatment handling
- Outsources fulfillment and customer service
- Eliminates need to manage recipients' bank accounts
- Improves funds management and issuance for lower cost delivery
- Enhances communications to recipients to reinforce program benefits
- Positive recipient experience with faster and more flexible access to funds
Prepaid Applications within the Public Sector
As a pioneer in the public sector space, Citi Prepaid Services understands the payment challenges facing government agencies. As such, we have developed a suite of stored value products specifically designed to meet your organizations' payment delivery needs including:
- Government Benefits: Electronic payment solutions for beneficiaries that drive significant cost savings for the agency and give claimants immediate access to their funds.
- Payroll and Pension: Leverages agency's current ACH file submission process to deliver economical, secure and efficient payroll payments that guarantee pay on time to all employees.
- Workers' Compensation: Fast, dependable and convenient electronic payments to workers' compensation claimants that eliminate the need to cash or deposit checks.
- Emergency Relief: Fast, reliable payments to citizens and volunteers in times of need.
- Higher Education Payments: Electronic payment applications within student refunds, research disbursements and payroll that simplify administration for the university and provide convenience and security for the recipient.
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