Events & News

Citibank press release

July 2, 2019

Citi Introduces Digital Voucher Solution for Commercial Mastercard Clients

The new solution enables brands and businesses to more effectively engage customers and improve operational efficiency


Hong Kong – Citi today announced the application of the Citi virtual card account (VCA) solution in digital vouchers, enabling Citi commercial Mastercard clients to issue customized, redeemable QR codes, thus driving better customer experience while improving cost efficiency.

Unlike traditional paper vouchers that need to be prepaid and distributed physically, making inventory management and results tracking difficult, digital vouchers enable brands and businesses to better control marketing expenses since they are only charged per redemption. Marketers can also track and trace each redemption to measure campaign effectiveness.

The digital vouchers are in the form of one-time redeemable QR codes. When a QR code is being scanned at the merchant, it triggers a transaction which will be settled through the virtual card account.

VCA is an extension of Citi's commercial card solutions, which can be used for a wide variety of payment needs and help improve operational processes. The solution eliminates the need for paper-based payments, but still leaves an electronic trace, which allows for easy reconciliation and reporting.

VCA, which is exclusive to commercial Mastercard clients, enhances transaction security and expense control through the generation of unique non-plastic account numbers. These numbers allow for secure purchasing and clients can pre-set a transaction based on amount limit, validity period, Merchant Category Codes, and even restrict transactions to a specific supplier’s merchant ID.

“The digital vouchers are a great example that demonstrates how our digital solutions are enabling clients to be more efficient and innovative in the way they conduct business,” said Howard Yang, Head of Treasury and Trade Solutions at Citi Hong Kong. “We are seeing an increasing trend for companies across different sectors to use the virtual card account for their B2B payment processes given the versatility and broad applications of the solution.”

In the last 12 months, the number of Citi VCA clients has more than doubled in Asia Pacific where the solution is available across 14 markets.

“Mastercard is proud to collaborate with Citi to enable the first-ever virtual card account digital voucher solution in Hong Kong, helping businesses streamline operations with more sophisticated yet intuitive insights, controls and processes to enhance transparency, efficiency and competitiveness,” said Helena Chen, Managing Director, Hong Kong and Macau, Mastercard. “Mastercard is leading the transition to digital payments with the convergence of innovation and digital lifestyle. We will continue to develop a broad range of commercial payment solutions that address evolving business needs.”

Dennis Shi, CEO of Hong Kong-headquartered loyalty management platform MOJODOMO, said, “The Citi virtual card account has enabled us to offer a redemption-based payment model to clients using our loyalty voucher platform. When combined with our unique data analytics, we provide a powerful, fully-automated solution for brands to better connect with and reward their global customer base through the issuance of customized, redeemable vouchers with QR codes. Our strategic partnership with Citi and Mastercard further helps realize our strategy to build momentum across B2B industry segments in driving game-changing innovation.”

“We are delighted to be able to work in partnership with our client to co-create a solution that is tailored to their business needs. Our ability to tap the Citi network for the best capabilities and resources combined with our client-centric approach position us well to help companies build more competitive and efficient businesses using our suite of digital technologies and solutions.” said Anson Kwok, Head of Citi Commercial Bank in Hong Kong.

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花旗集團為商務 Mastercard 客戶推出電子現金券方案

新方案有助品牌和企業更有效地吸納及保留客戶並提高營運效率


香港 – 花旗集團今天宣布將其虛擬卡帳戶(Virtual Card Account ,簡稱 VCA)方案應用於電子現金券上,讓花旗商務 Mastercard 客戶可發出量身制定、可兌換式的二維碼 (QR code),在提高成本效益的同時,亦有助提升客戶體驗。

電子現金券只在每次換領時才會扣帳,有助品牌和企業更有效地控制營銷支出。營銷人員還可追蹤及查看每宗現金券兌換交易,以評估推廣活動的成效。反觀傳統的實體現金券,則需要預先付款和派發,令存貨管理和銷情追踪變得困難。

電子現金券以二維碼的形式,提供一次性的兌換功能。當商戶掃瞄二維碼時,便會啓動交易程序, 其後透過虛擬卡帳戶結帳。

虛擬卡帳戶是花旗商務卡方案的一項新猷,可滿足各種支付需要,並有助改善客戶業務營運流程。該方案過程全數碼化,並保留電子記錄,以便進行對帳和呈報。

虛擬卡帳戶專為花旗商務 Mastercard 客戶而設,透過發出獨一無二的帳戶號碼,加強交易的安全性和成本控制。客戶可利用有關的帳戶號碼進行採購,並可預設交易金額上限、有效期、商戶類別編碼(Merchant Category Codes),甚至限定只透過某特定供應商的商戶編號進行交易。

花旗集團財資及貿易金融部香港區主管楊長浩表示:「電子現金券正好反映我們的數碼方案如何幫助客戶革新及提升營運效率。VCA 方案用途廣泛,我們見到愈來愈多從事不同行業的公司已採用虛擬卡帳戶進行 B2B 支付流程。」

過去 12 個月,花旗集團在亞太區的虛擬卡帳戶客戶增加超過一倍。該方案現已覆蓋區內 14 個市場。

Mastercard 香港及澳門總經理陳一芳表示:「Mastercard 很榮幸與花旗集團合作,攜手呈獻香港首個虛擬卡帳戶電子現金券方案,以更精密周全的洞察力、監控及流程來幫助企業簡化運作,從而提高其透明度、效率和競爭力。 Mastercard 透過融合創新和數碼化生活,引領社會邁向數碼化支付,更將持續開拓更廣泛的商用支付解決方案,以應對企業瞬息萬變的需要。」

MOJODOMO 為一間以香港為總部,提供品牌與客戶互動,並藉此以提高消費者忠誠度之方案平台。 其執行長佘啟彦表示: 「通過花旗虛擬卡帳戶的應用, 我們可以基於為品牌客戶所開發的互動優惠平台之上, 提供以實際優惠券兌換數量而作出支付的全新模式體驗。 透過發送客製化、可兌換式的二維碼優惠券,再結合我們所獨有的數據分析技術,可以為品牌提供一個全自動而且功能強大的解決方案,使品牌能與其全球客戶群建立連繫並回饋他們。我們與花旗及 Mastercard 的策略型夥伴關係必能更進一步幫助我們實現 B2B 跨產業創新互動合作的策略,迎領顛覆固有遊戲規則的創新紀元。」

花旗商業銀行香港區主管郭炬廷表示:「我們很高興能夠與客戶合作,共同開創一個切合他們業務需要的方案。我們善用花旗集團網絡的優秀人才和資源,加上以客為本的服務方針,令我們能夠憑藉本身的數碼技術和方案,協助企業提升業務競爭力和營運效率。」