Citi supports suppliers operating in various markets by now offering suppliers the choice to be paid in their preferred currency. Within the existing Citi Supplier Finance platform, suppliers can elect to be paid in an alternative currency, as well as choose to use the exchange rate to convert proceeds from invoice currency to payment currency.
To support suppliers who are operating in various markets, Citi is now providing a way for suppliers to choose to be paid in an alternative preferred currency. Within our existing Citi Supplier Finance platform, Suppliers can now elect to be paid in an alternative currency, including the exchange rate to be used to convert the proceeds from Invoice currency to Payment currency.
What does it do?
• Gives suppliers the option to receive payments in local/preferred currency
• Uses latest competitive rates (with no hidden charges) for suppliers to choose from, rates refresh every 30 minutes
How does it work?
• Embeds competitive rates into our existing Citi Supplier Finance platform through a simple interface with a two click solution
• Suppliers have full visibility of exchange rates
• Provides clients option to elect directly to be paid in alternative currency
Read the full report here.