Citi's Treasury and Trade Solutions (TTS) announced a contract with global payment processor Ebanx to provide an end-to-end digital collection solution (eCommerce) for Citi's institutional clients in Latin America. Citi's clients will be able to accept over 100 consumer payment alternatives online in 11 countries (Argentina, Colombia, Costa Rica, Ecuador, Dominican Republic, El Salvador, Guatemala, Panama, Paraguay, Peru and Uruguay). 

According to EBANX's Beyond Borders study, the collaboration will assist Citi's institutional clients in Latin America in enhancing payments acceptance and optimizing local card processing, which will help them compete in a more competitive economy. To keep pace with the evolving needs of our diverse institutional client base, particularly direct-to-consumer (D2C) clients, we are expanding our digital commerce presence in today's complex payments industry. 

Through EBANX's platform, customers can pay with credit cards, e-wallets, and other rapid and local payment options. When it comes to payment methods, EBANX's robust framework enables clients to easily access their chosen ways. To do this, Citi Latin America's Head of Payments and Receivables Treasury and Trade Solutions, Gabriel Kirestian, stated: "Through a complete consumer payments solution, we seek to increase payment options for our institutional clients with local and regional reach." 

"Citi is a market leader in banking and financial services on a global scale. We can now better service their Latin American merchants as a result of this collaboration. This is a significant step forward for any global digital corporation looking to expand its consumer base in key Latin American countries," stated Paula Bellizia, President of EBANX Global Payments. 

As part of this arrangement, Spring by CitiSM, the bank's TTS business digital consumer payments solution for corporate and institutional clients, will be available in Mexico in 2020 and Brazil in 2021.