Citi Prepaid Card Services Payroll Solution

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1 Citi Prepaid Card Services Payroll Solution Citi Transaction Services Latin America and Mexico

2 Citi Transaction Services Latin America and Mexico Citi Prepaid Card Services 2 Efficient, Cost-Effective Payment Solutions Citi Prepaid Services extends numerous benefits and applications to the corporate sector in operations and claims arenas. Increasing automation and reducing checks and paperwork dramatically reduces internal and external fraud. Our solutions also enable our clients to provide immediate fund delivery for standard and emergency relief claims. Furthermore, Citi Prepaid Services solutions also benefit the environment through a considerable reduction in paper use, giving issuers and users an easy way to enhance their green credentials What is a prepaid card? A prepaid card, sometimes referred to as a smart card or smart payment system, is issued by a bank and loaded with a specific value on behalf of a paying organization. The card enables the user to withdraw cash or pay for purchases up to a predetermined limit. Fast Facts Prepaid cards are much cheaper and more efficient than issuing checks. Prepaid cards reduce paper-intensive administrative burdens such as reconciliation and queries from beneficiaries, eliminating paper processing and improving efficiency. Payments are made using existing card technology, like a standard debit or credit card. Cards may be chip-and-pin enabled. They may allow users to make purchases or withdraw cash from a single organization. They can be used to withdraw cash from ATMs or make purchases from retail outlets that are a part of the Visa/Mastercard network. What all prepaid cards have in common is that funds must be pre-loaded onto the card before they can transact. There is no option to exceed the loaded balance or draw on credit. Cards can be personalised or non-personalised, which allows them to be treated almost like cash and be given away to a third party as a gift. Cards can also be reloadable or disposable, which means they can either be topped up for continuous use or used to facilitate a single payment, such as a customer reimbursement. Citi helps to meet the challenge Payroll departments face specific challenges when paying the sub-set of their employees that do not have bank accounts Provides faster, more efficient claim payments during disasters/incidents Improve customer experience post-incident Eliminate checks and cash-based payments Delivers effective ongoing customer messaging and communication Leverages a single platform for multiple claim types Much more than an efficient payment solution Citi Prepaid Services extends its payroll benefits and applications to a variety of sectors and industries Perfect for: Industries with a large unbanked, hourly workforce with high employee turnover Large retailers Quick serve restaurant chains Staffing companies Hotels/Resorts Construction companies Sanitation/Cleaning companies Security companies Service industries

3 3 Transaction Services Citi Prepaid Card Services Benefits at a Glance: Benefits to your company Better Financials Reduce payroll costs Eliminate lost/stolen check fraud Eliminate handling of uncashed checks Streamline Operations Entirely electronic payroll process Guarantee pay on-time, every time Decrease payroll inquiries Reduce or reallocate payroll resources Eliminate payday disruptions Employees don t need to come to the store/office to pick up their pay Supports corporate green Benefits to payment recipients Financial inclusion Visa/MC protection, acceptance, and prestige Less expensive than check cashing Free access to cash Instant access to cash on payday Employee friendly fees Great program features notifications on payday Multi-lingual Customer Service Free website access A payment solution for every payment need Custom Branded Visa/MasterCard prepaid debit card Good everywhere Visa/Mastercard are accepted Open-loop or restricted spend Re-loadable and re-usable ATM cash access Optional transfer to a bank account feature Turnkey Solution Custom card package materials (optional) Card issuance and account maintenance Marketing communications support Multilingual Customer Service (IVR, live reps) Robust reporting and audit controls Instant issue cards for termination pay & emergency payments Partnering with you, across implementation and service Citi Prepaid Services takes a collaborative approach during the implementation process, the building block of a satisfactory and long-term successful relationship. At Citi, we are committed to providing the highest-quality customer services in the industry by leveraging leading-edge technology platforms, workflow process discipline, local expertise and, above all, continuous client feedback. Enhanced Communications Portal Customizable Cardholder website Real-time account information (IVR/online) Alerts (text message/ ) Electronic payslip information

4 Citi Transaction Services Latin America and Mexico Citi Prepaid Card Services 4 Electronic Paper Your Current Situation Direct Deposit $ The Citi Payroll Card Solution Check Direct Deposit Paycard Goals Reduce the expensive and inefficient process of in-house printing and distribution of pay check and paper pay stubs bi-monthly Reduce ongoing delivery issues associated with uncontrollable forces over the past several years (9/11, hurricanes, strikes, etc.) Increase the number of employees paid electronically Solution Pay unbanked employees using a reloadable Stein Mart Prepaid Visa Card. Provide pay-slip information electronically on the cardholder website. Illustrating what we can do together Case Review: Citi HR Challenge Graduate students need to be reimbursed for travel expenses Previously received payment by check High levels of administration around check payment Time delay before students receive funds (cheque to be cashed and payment to clear) Solution Instant Issue prepaid cards Enables HR department to load value to cards in real time Cards with payment can be handed to student on day of interview Results 100% electronic paperless payroll process Cost savings of approximately US$100K annually Eliminated checks within two weeks of rollout Redeployed payroll resources to other areas Reduced payday disruptions Guaranteed pay delivery on-time, every time Results Students receive inmediate access to funds Opportunity to put Citi brand in mind of future employee Efficient, electronic disbursement mechanism Illustrating what we can do together Case Study: Stein Mart Situation High fashion, off-price retailer with about 300 stores, coast-to-coast in the US in 30 states, 18,000 active associates 50% of employees were paid via check

5 5 Transaction Services Citi Prepaid Card Services We are the largest provider of corporate prepaid card solutions Proven success in Telecom: We drive results for every major US mobile carrier 13 year history in Prepaid Cards 60+ implementations per quarter More than 1,500 corporate clients (including 43 of the Fortune 100) More than 25 million cards issued in 2009 Citi Prepaid Services: the right solution Citi Prepaid Services offers unrivalled local presence, expertise and proprietary prepaid technology. Combined with Citi s global platform and the state-of-the-art infrastructure of Global Transaction Services, our proven methods make our prepaid programs a market-leading payment-services solution. Global support network with local service hubs around the world No matter where you are located, there are dedicated customer service representatives close at hand Knowledgeable service representatives Phone, fax or for support Single window of service Centralized investigations For more information about Citi Prepaid Services, please contact your Citi representative or visit our website at ome/card_solutions/prepaid_solution.jsp

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