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.
With Citi PayLite, cardholders can split their purchases of at least P3,000 at participating merchants, into equal monthly installments for up to 36 months, depending on the purchase amount and the terms of the participating merchant. For example, a transaction worth P3,000 can be split into 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.
Citi PayLite runs on Global Payments point of sale terminals and is available only for locally issued Citi credit cards.
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 and even pay for school tuition fees or healthcare expenses.
With the holiday season just around the corner Citi credit cardholders can shop for premium clothing or upgrade their gadgets and home appliances. They can purchase all these without making a big dent on their pockets as they enjoy light and easy installments with Citi PayLite.
“Citi continues to offer best in class rewards to our loyal credit cardholders and we also want to ensure that they enjoy the convenience of paying for big ticket items on installment basis. With the reopening of many businesses, this is the perfect time for them to go shopping and avail of Citi Paylite,” said Vishal Kadian, Citi Philippines Cards and Loans Director.
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 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.”
Availing of Citi PayLite is easy: A Citi credit cardholder only needs to swipe his Citi credit card at participating merchants, choose his preferred installment term, sign the charge slip to agree to the terms and conditions and the details of the Installment transaction, and proceed with the conversion to installment. The cardholder will receive an SMS regarding the outcome of the request. Conversion to Citi PayLite is subject to Citi’s approval based on the cardholder’s available relationship limit. Citi credit cardholders can also avail of Citi PayLite in their favorite online stores by next year.
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.
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