Citi, the largest foreign bank in the Philippines, and Global Payments Inc., a leading worldwide provider of payment technology and software solutions, have forged a new agreement to bring back Citi’s merchant installment facility, Citi PayLite.
Citi PayLite is an installment facility that allows Citi credit cardholders to split their purchases of at least P3,000 at participating merchants into equal monthly installments for 3, 6, 9, 12, 24 or 36 months depending on the amount of the purchase and the terms of the participating merchant. For example, a transaction worth P3,000 can be split three monthly installments of P1,000, making purchases lighter on the wallet and giving cardholders more room to manage their monthly expenses.
Currently, Citi PayLite is available for purchases at leading merchants across a wide range of categories such as gadgets, appliances, department store/shopping, education and healthcare and medical. Citi is aggressively growing their merchant portfolio, expanding to hundreds of brands and thousands of outlets nationwide, to ensure that Citi PayLite is available in more locations by the end of the year. Citi Cardholders may visit www.citibank.com.ph/gppaylite to view the growing list of available brands and outlets that accept PayLite.
During this time of uncertainty brought about by the pandemic, Citi and Global Payments want to provide customers with more flexible payment options when they purchase high-ticket items, pay for school tuition fees or healthcare expenses.
“Citi enjoys a rich history in the Philippines, having been established here for 120 years and we take pride in our global network and in being the largest international player in the cards business. Here in the Philippines, we have nearly one million credit cards in force. Our cardholders have the highest purchasing power, disposable income, and credit limits. So we constantly challenge ourselves to serve them better, which is why are happy to announce the return of Citi PayLite, so our customers enjoy the advantage and convenience of paying in installment,” said Citi Philippines Consumer Business Head Manoj Varma.
Bryan Tiongson, Global Payments Country Head of the Philippines, adds, “Global Payments is a trusted partner to the most sophisticated global financial institutions and merchants, providing innovative payment technologies to meet their customers’ needs and enable frictionless commerce. We are delighted to expand our partnership with Citi to offer Citi PayLite to their cardholders and our merchant customers in the Philippines. By leveraging our technologies and extensive scale in the region, we have the capability to bring Citi PayLite installments to a broader range of customers.”
By March 2022, Citi PayLite will be available in nearly 5,000 outlets serviced by Global Payments in the Philippines including key merchants such as Abenson, Power Mac Center, Rustan’s, Stores Specialists, Inc., and The SM Store.
Citi Philippines is the largest foreign commercial bank in the country in terms of assets, revenues and profitability. Citi offers a wide variety of credit cards; each of them has curated with benefits and privileges. Citi credit cards offer generous reward points or cash rebates, dine-in discounts, travel, hospitality and lifestyle benefits, and much more.
Global Payments is a payments technology leader with extensive scale and unmatched global reach. The company provides innovative payments and software solutions to approximately 4 million merchant locations, serves over 1,500 leading financial institutions and partners globally, enables more than 170 countries with cross-border payments, and processes nearly 60 billion transactions annually.