Yahoo Sports Citi Retail Services Expands Its Embedded Payment With Citi Pay
Citi Retail Services, the retail payments and credit solution company, is expanding its embedded payments strategy with a slew of its Citi Pay products. Citi Pay payment products have been integrated into the participating retailers existing payment platforms. It provides customers with more payment options and flexibility for lines of credit, installment loans and much more.
Notably, a study conducted by Citi recently found that 85 percent of the 1,000 Americans surveyed think that retailers should have more flexibility within their payment options for shoppers when they checkout.
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The company has recently announced that Citi Pay has forayed into the world of digital-only payments, with the new Citi Pay Credit. The credit card is a digital-only card, with a dedicated line of credit that allows consumers to be more intentional with making larger or unexpected purchases.
Customers who want to use the Citi Pay Credit can apply directly during the checkout process at participating retailers before completing their purchase and obtain their credit and authorization decision in real-time. Furthermore, Citi Pay Credit will allow its retail partners to give their shoppers promotional financing.
In the upcoming months, Citi Pay will introduce Citi Pay Installment Loan. This will allow customers to pay through the buy now, pay later model of monthly installment loans at participating retailers offering the payment. Customers will have the option to pay the full amount in equal consistent payments over a period of six to 60 months, based on the retailer.
“Citi Pay products enable us to move at the speed of retail and position us at the digital intersection space of merchants and customers,” said Kartik Mani, chief executive officer at Citi Retail Services and global head of Connected Commerce. “This is our next step forward in the evolution of trusted payments solutions which puts customers in control of how they want to finance their purchases and offers merchants more opportunity to drive sales of greater value.”
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