Citi enables real-time consumer-to-business collections for Vietnamese corporate clients

The bank has tied up with fintech Payoo.

Citi Treasury and Trade Solutions has forged a partnership with fintech firm Payoo to enable its corporate client base in Vietnam to receive real-time payments from their customers for services including utilities, telecommunications and credit card bills.

The partnership leverages on Payoo's digital network and physical footprint of more than 10,000 brick-and-mortar touchpoints. 

"The collaboration with Payoo is exciting as it complements Citi’s capabilities to deliver last-mile digital solutions to our clients," Debopama Sen, Singapore and ASEAN Head, Citi Treasury and Trade Solutions said in a statement. 

The partnership was announced at the sidelines of the banking unit's ASEAN FinTech Day in Singapore.