Citibank & Visa to Launch Cloud Based B2B Platform in Singapore
Monday, March 6, 2017
Posted by: Katie Beatty
Citibank Singapore and Visa are set to launch a new cloud-based B2B platform called Renepay.
Renepay has an wide range of suppliers in Singapore across 10 different product categories, including:
print and stationery
real estate services
“We recognise that corporate buying is very specialised and we wanted to provide buyers a platform where they can interact with leading suppliers online and arrive at the best price through the online negotiation centre,” said Vikram Kshettry, Head of B2B Partnerships, Asia Pacific at Visa.
Renepay founder Firdaus Morgul also stated, “At every step of the procurement cycle, we allow corporates to decide on what best works for them including what to purchase, which suppliers to transact with, and the payment process which they would like to adopt.”
Renepay will be available to medium and large Citi Visa Commercial Cardmembers and will provide buyers the capability to extend their repayment period (interest free) when they make purchases on the network. The platform also offers reduced process costs and increased efficiency.