Ho Chi Minh City, 30 April 2019

by Tram Nguyen

In conjunction with ASEAN Fintech Day happened on April 26, Citi Treasury and Trade Solutions announced that they have formed a strategic partnership with Payoo to facilitate consumers-to-business collections for corporate clients in Vietnam.

Under this partnership, Citi’s corporate clients in Vietnam will be able to receive real-time payments from their customers for services including utilities, telecommunications, and credit card bills through Payoo’s extensive digital network and physical footprint of over 10,000 brick-and-mortar touch points.

Linh Trung Ngo, CEO of VietUnion, which operates the Payoo platform, stated:

“With our intensive knowledge of the local market, Payoo is proud to be delivering our innovative collections services to Citi’s clients. We are excited to work with Citi to develop additional enhanced services to meet clients’ evolving needs as the local payments infrastructure in Vietnam continues to develop.”

Mr. Debopama Sen, Singapore and ASEAN Head, Citi Treasury and Trade Solutions said:

“The collaboration with Payoo is exciting, as it complements Citi’s capabilities to deliver last-mile digital solutions to our clients. This is in line with our strategy to leverage the potential of the thriving fintech ecosystem in Singapore and ASEAN to enhance our client value propositions.”

This event received much attention from the participants at Citi Treasury and Trade Solutions’ ASEAN FinTech Day which belongs to Citi Trade and Treasury Solutions’ FinTech Accelerator Program. According to Mr. Manish Kohli, Global Head of Payments and Receivables, Citi Treasury and Trade Solutions, this program worked with thousands FinTechs around the world to create new services and capabilities on their platforms for the benefit of clients.