WASHINGTON (dpa-AFX) - Dandelion, a Euronet Worldwide (EEFT) company, and Citi (C), Thursday, announced a partnership to improve cross-border payments by integrating Dandelion's digital wallet network with Citi's WorldLink Payment Services.
Through the partnership, Citi's institutional clients can send full-value, almost instantaneous payments into digital wallets that are accessible almost around-the-clock.
The Philippines, Indonesia, Bangladesh, and Colombia will be the service's initial launch countries, with plans to expand.
According to Citi, the program will enhance remittances and offer corporate clients business-to-consumer payments, such as payroll, social benefits, and gig economy transfers, more quickly and affordably.
The partnership expands Citi's payment capabilities to more than 150 digital destinations globally by integrating Dandelion's wallet reach in 63 countries.
C is currently trading at $100.30, down $1.34 or 1.32 percent on the New York Stock Exchange.
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