(5 September 2007 – USA) Citibank has joined up with cross border payments organisation Eurogiro to extend their respective global payment distribution networks.According to Eurogiro’s website, the organisation is a co-operation that has a commitment to take its members to the forefront of the cross border payment technology by reducing production costs and enhancing quality between members.
The agreement with Citi will join Eurogiro’s 61 connections in 50 countries with Citi’s payment network in more than 100 countries.
Eurogiro said the alliance would allow its 57 members to benefit from Citi’s distribution capacity and payment offerings.
Eurogiro managing director, Henrik Parl, said Citi provided Eurogiro with the leading international payments capabilities and cross border expertise it was looking for in a banking relationship.