Citi® Procure to Pay
Electronic Payments is specifically designed to automate, integrate and simplify payables processing, allowing you to achieve all the benefits associated with paying suppliers via ACH or buyer-initiated Purchasing Card.
- Reduced costs of paper check processing
- Ability to leverage financial incentives such as rebates and early payment discounts
- Improved control of the timing of your disbursements
- Better visibility into your spending
- Advanced fraud protection and security features
The Electronic Payments solution features a hosted web-based Payment Gateway that provides a suite of value-added services for optimizing electronic payment workflows.
Citi® Payment Gateway manages bank account data for suppliers, houses rich remittance data, and supports payments made with ACH and buyer-initiated Purchasing Cards. Buyer-initiated purchases made with Purchasing Cards mirror payments made by ACH, combining the security of ACH with the financial benefits of a Purchasing Card, including increased opportunity for rebates. Buyers can send the file directly, from their organization's ERP system, with no point-of-sale transaction required and no need to show the card to the supplier. Whether payments are made by ACH or with a buyer-initiated Purchasing Card, Citi manages the disbursement.
Payment gateway features
Citi® Payment Gateway benefits:
- Comprehensive supplier enablement program that provides seamless onboarding for all your suppliers
- Management of your suppliers' bank account data for ACH payment flows
- Secure, file based Purchasing Card payments where suppliers never see card numbers
- Secure online access to remittance data for you and your suppliers
- Web-based portal for payment status and reporting
- Single file delivery for both ACH and buyer-initiated Purchasing Card transactions (In fact, we can even process your checks through the same single files for added efficiency.)
- Ability to link transactions and payments to Supplier Finance programs