Citi Cuts UK Council Processing Costs
Citi has been appointed by the London Borough of Havering Council to supply prepaid cards to replace cash and cheque payments for end users. The council will be able to more than halve its existing processing costs for cash and cheque payments. Twenty-nine other councils have also joined the framework.
Havering already uses the system for direct payments of personal budgets. Potential uses for the prepaid cards include: payments for social care budgets, such as adult social care and personal/individual budgets, asylum benefits, and housing benefits. The London Borough of Lewisham is also using Citi’s Prepaid solution for payments to young people leaving care.
Councillor Roger Ramsey said: “We undertook a pilot of the Citi Prepaid solution for several months in a number of payment areas. This proved successful and we now look forward to rolling it out to other payment areas. The Citi’s prepaid card solution will reduce our payment costs associated with our payment processing and make it easier for our customers to receive their monies.”