US bank Citi has been chosen as the card distributor for the New South Wales (NSW) government in Australia.
Citi secured a five-year contract with the government that will allow the bank to distribute commercial, virtual and travel cards to government officials in NSW after being chosen after a tender process.
“The NSW government has recognised Citi as the leading global commercial cards issuer, capable of delivering superior digital innovation and streamlining cards management,” said Kirstin Renner, Head of Treasury and Trade Solutions, Services for Citi Australia and New Zealand.
“The solution we have provided enables government spend to be captured on card whilst also automating a number of manual processes associated with traditional payment processing. It offers accessible and efficient reporting on card spend and is easy to access via online and mobile card management platforms – thereby driving efficiencies for the government.”
Through the partnership, Citi Services will support the provision of approximately 50,000 physical cards and three million annual supplier payments.
Additionally, Citi will support virtual card payments to over 880 government suppliers. Citi Services has the largest government commercial cards programme in the world, according to the bank.
The NSW government mandate highlights Citi Australia’s growing profile as a prominent player in public service card provision, with the financial institution also providing commercial cards for the Queensland Government.
A NSW Government spokesperson said: “The NSW Government is pleased to have secured new extended banking agreements that ensure our State remains at the forefront of financial stewardship while providing the people of NSW with the best banking and payment services available.
“These new agreements under the state’s multi-partner model will save the NSW budget more than $47m and ensure an efficient, effective, and economical use of financial services for the State and its agencies.
“We are also excited by the prospect of innovative banking and payment solutions that will support our efforts to deliver simpler, safe and secure payment options for the citizens and businesses of NSW.”
