Citi® Launches Next Generation Meeting Card
Solutions
First in Industry to offer Global Declining Balance and Virtual Accounts for Meeting Cards
August 09, 2010 09:34 AM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Citi today announced the launch of the Citi® Meeting Card
solution designed to provide organizations with the ability to simplify meeting and event expense management
processes. With Fortune 500 companies spending an estimated $500 billion globally for meeting and events, the Citi
Meeting Card provides a single, global solution to increase spend transparency and impose greater budgetary
controls over meeting spend.
The Citi Meeting Card solution provides enhanced security and control over expenses allowing organizations to
track and analyze transaction data by department, cost center, spend category and supplier. It allows for a clear,
consistent picture of meeting expenses and, as with other commercial card solutions, provides greater leverage when
working with suppliers.
Coupled with the globally available declining balance and virtual card options, organizations are able to link a meeting
budget with a set end-date to further enhance budgetary controls. The declining balance option ensures that meeting
and event budgets cannot be exceeded by reducing the available credit with every transaction that posts to the
account, while the Virtual Card Account option provides added flexibility and increased control through real-time
account generation and the ability to establish pre-approval parameters for every purchase.
“Building off of our experience in the Travel & Entertainment and Purchasing Card markets globally, the Citi Meeting
Card brings an increased level of efficiency and control to what is a sizeable and under-measured pocket of spend,”
said Hubert JP Jolly, Citi’s Global Head of Commercial Cards within Citi’s Global Transaction Services, “Clients
now have a single solution to capture and monitor their meeting and event expenses. With the addition o