Developing B2C payments tools.
By Citi October 13, 2010 06:08 PMPaul Galant, CEO of Global Enterprise Payments at Citi, discussed the potential for improving the handling of business-to-consumer (B2C) payments in a recent piece in American Banker (subscription). A goal of his newly created unit is to develop products and services to enable large merchants, governments and financial institutions to interact more efficiently with their customers. Galant cited Citi's global footprint and "scaleable operations" as strengths in finding client solutions in this developing sector. He said he saw this new business group approaching problems not as a bank, but "as a technology company with a banking license."