Citigroup Ranked #1 Commercial Card Issuer by Nilson Report
Citigroup Accounts For $23.1 Billion Of $150.2 Billion Market
New York, September 7, 2004
– Citigroup is the largest issuer of Visa and MasterCard commercial
cards in the United States, according to The Nilson Report, a leading
publication covering consumer payment systems worldwide. Citigroup
topped Nilson Report’s list of 50 commercial card issuers
with volumes of $23.1 billion for 2003, a 17 percent increase over
the previous year. This represents more than 2,400 commercial accounts
and more than 3 million cards.
“Our ranking in the U.S. is a testament to our global strategy,”
said Gary Schneider, Managing Director and Global Business Manager
for Citibank® Commercial Cards. “That strategy
is to offer consistency in our commercial card offerings –
common features, functions, and capabilities – regardless
of the country in which the cards are issued. This drives usage
both within specific markets and globally.”
Citibank® Commercial Cards combine traditional corporate
travel and purchasing card programs with advanced technology and
data reporting tools. It offers four commercial card products –
Citibank® Purchasing Card, Citibank®
Corporate Card, Citibank® One Card, Citibank®
Fleet Card – available in 30 countries in North and South
America, Asia and Europe.
According to The Nilson Report, commercial credit and debit cards
issued in the U.S. generated $150.25 billion in purchases of goods
and services during 2003, up 18.8 percent over 2002.
Citigroup (NYSE: C), the preeminent
global financial services company with some 200 million customer accounts
in more than 100 countries, provides consumers, corporations, governments
and institutions with a broad range of financial products and services,
including consumer banking and credit, corporate and investment banking,
insurance, securities brokerage, and asset management. Major brand
names under Citigroup's trademark red umbrella include Citibank, CitiFinancial,
Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
Additional information may be found at: www.citigroup.com.
About Citigroup Global Transaction Services
Citigroup Global Transaction Services is a leading provider of integrated
cash management, trade finance, securities services and commercial
card solutions to corporations, financial institutions and governments
around the world. The Citibank® Commercial Cards products –
Citibank® Corporate Card, Purchasing Card, One Card and Electronic
Account – deliver the industry’s most advanced and innovative
Web-based purchasing, payment, expense management and data integration
solutions for business-to-business transactions. Citigroup is the
largest bankcard issuer in the United States. For more information
on Citibank Commercial Cards, please visit www.citimanager.com.
