Citi and Dandelion Collaborate to Transform Cross-Border Payments, Enabling Full Value, Near-Instant Payments into Digital Wallets Across the Globe
Highlights:
- Citi and Dandelion are collaborating to enable near-instant, full-value cross-border payments directly into digital wallets across the globe, leveraging Citi's WorldLink® Payment Services and Dandelion's extensive digital wallet network.
- The collaboration is launching in the Philippines, Indonesia, Bangladesh and Colombia, enhancing Citi's offering and facilitating faster and more cost-effective business-to-consumer payments, from remittances to payroll and social benefits.
- This initiative is part of Citi's commitment to innovative solutions, expanding its WorldLink capabilities to over 150 digital destinations and reinforcing its leadership in 24/7 real-time global payments.
Today, Citi and Dandelion, a Euronet Worldwide, Inc. (NASDAQ: EEFT) company, announced a collaboration to enhance cross-border payments, powered by the integration of Citi's cross-border payments solution WorldLink® Payment Services and Dandelion's expansive digital wallet network. The collaboration empowers Citi's institutional clients to deliver near-instant, full-value payments into digital wallets across the globe, with near 24/7 availability. The capability will initially extend to the Philippines, Indonesia, Bangladesh and Colombia, with plans for further expansion.
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Paying into wallets not only enables Citi to enhance its offering to its financial institution clients, especially in the remittances space, but the solution also enables Citi's corporate clients to make faster and cost-effective business-to-consumer (B2C) payments. For corporate and public sector clients, this solution addresses a growing need for B2C payments into wallets. This includes everything from employee payouts, like payroll and expense reimbursements, to social benefits, customer refunds, compensation payments, and more seamless transfers to freelance and gig-economy workers.
The effort capitalizes on Citi's industry-leading payments network, which processes over 11 million instant payments daily and drove close to $380 billion in cross-border transaction volumes in 2024.1
"Our collaboration with Dandelion underscores Citi's commitment to delivering innovative and comprehensive payment solutions that meet the evolving needs of our global clients," said Emanuela Saccarola, Head of Cross Border Payments, Services, Citi. "By integrating Dandelion's robust digital wallet network with Citi's global payment infrastructure, we are enabling our clients to reach into markets with new payment methods. This will help unlock speed, cost efficiency and transparency and reinforce our position as a leader in providing always on, 24/7 real-time payments."
The endeavor expands Citi's WorldLink Payments Services, enabling clients to make cross-border payments in over 135 currencies through various methods, including traditional wires, ACH, and cross-border instant payments via Citi's proprietary network. Additionally, clients can make payments into digital wallets and via debit cards, facilitated by Citi's collaborations with multiple digital wallet providers and card networks globally, significantly expanding Citi's reach. Overall, Citi's WorldLink solution empowers clients to send full-value, near-instant payments to over 150 digital destinations, including bank accounts, mobile wallets, and debit cards. In addition, Citi has other instant payment services like Citi® Token Services and 24/7 USD Clearing, which offer real-time, always-on services for its institutional clients.
Dandelion is a leader in electronic payments and financial services reaching over 63 countries via digital wallets. Dandelion's network and strong footprint will help extend Citi's reach globally, enabling Citi clients to directly access beneficiaries in the Philippines, Indonesia, Bangladesh, and Colombia who primarily rely on digital wallets for financial transactions
"We're thrilled to be working with Citi, pairing Dandelion's cutting-edge cross-border payment capabilities with Citi's diverse client base and extensive international operations," said Juan Bianchi, Euronet's EVP & CEO Money Transfer segment. "Together, we're raising the standard for cross-border payment speed, reliability, and global reach, empowering businesses and consumers to move money seamlessly around the world."
By integrating Dandelion's extensive network with Citi's leading cross-border capabilities, businesses gain a more streamlined and secure pathway to disburse funds directly into mobile wallets across rapidly growing digital economies. This initiative reinforces Citi's dedication to innovation and its ongoing efforts to deliver leading financial solutions tailored to its global client base.
For more information visit: Citi Services.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
About Dandelion
Dandelion is the world's real-time, cross-border payments network, providing a complete payments-as-a-service solution. Dandelion's global disbursements network comprises direct-to-local connections in 200 countries and territories, with built-in settlement, compliance, and full-value delivery. Through a single API integration or Swift instruction, Dandelion enables financial institutions, payment companies and fintechs to reach 4 billion+ bank accounts, 126 mobile wallets, 3 billion+ mobile wallet accounts, and 626K cash pickup locations. Visit www.dandelionpayments.com for more information.
Dandelion is part of the money transfer segment of Euronet (NASDAQ: EEFT), a global leader in payments processing and cross-border transactions. Visit www.euronetworldwide.com for more information.
About Euronet Worldwide, Inc.
A global leader in payments processing and cross-border transactions, Euronet moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange and more. With products and services in 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone. Visit the Company's website at www.euronetworldwide.com.
1 Citi Q4 2024 Earnings Press Release. https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q42024/4Q24-earnings-press-release.pdf
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