Ecount® Changes Name to Citi Prepaid Services
The Leader in Corporate Prepaid Solutions Renames as Citi Prepaid Services to Further Leverage the Global Reach and Credibility of the Citi Brand.
Conshohocken, PA, September 1, 2008 – Ecount, the prepaid experts, today announced their name change to Citi Prepaid Services. This strategic renaming comes as a final chapter in Ecount's successful integration with Citi, which acquired the Conshohocken-based company in March, 2007. The acquisition was a visionary move to enhance the firm's cash management platform for corporations, financial institutions and governments worldwide.
Previously, Ecount's programs were integrated into Citi's Global Transaction Services division, strengthening its leading position in the domestic payments market and enabling the launch of similar solutions on a global scale. This move established Ecount as Citi's corporate prepaid solution provider.
For over a decade Ecount had provided custom prepaid card solutions for public and private sector organizations looking for simple, convenient ways to deliver payments for compensation, promotions and disbursements. Serving a portfolio of over 1,200 corporate clients across North America, these programs have empowered corporations looking to influence and motivate consumers, employees and partners in a way that reduces costs, strengthens brand awareness and increases operational efficiencies.
Now, with the Citi Prepaid Services name, these solutions will leverage Citi's premier payment platform and world-class global brand. "The Citi Prepaid Services brand accurately conveys the deep, far-reaching solutions we now provide together thanks to our successful integration with Citi," said Matt Gillin, Managing Director of Citi Prepaid Services. "Citi's robust payment platforms and unparalleled client relationships combined with our prepaid expertise has already transformed the landscape of payments. Now under the Citi brand we're able to further expand the reach of our programs on global scale."
"The integration between Ecount and Citi has already paid significant dividends, however the importance of establishing credible and trustworthy relationships cannot be overstated, and the Citi Prepaid Service brand helps to accomplish this," said Paul Simpson, Global Head of Wholesale Cards, Public Sector and Healthcare. "The prepaid card market is experiencing incredibly high growth as corporations and public organizations continue to move from paper checks to electronic payments. Citi Prepaid Services now has access to the most innovative payment products, broadest client base and unrivaled prepaid card expertise. Combined as one under the Citi name we will further expand the reach of our first-class solutions."
Citi's cash management platform offers its clients over 50 global services, spanning payments, receivables, liquidity, investments, information services and commercial cards, and operates in over 100 countries. Its clients include corporations, financial institutions and governments.
About Citi Prepaid Services
Citi Prepaid Services (formerly Ecount) is a leading provider of innovative prepaid solutions. Through a consultative approach, Citi Prepaid provides clients with comprehensive electronic payment programs that reduce costs, enhance operational efficiencies and provide an unmatched user experience. Leveraging an extensive payment platform and proprietary prepaid technology, clients around the world depend on Citi Prepaid's custom programs for all types of payments including compensation, promotions and disbursements.