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Mobile Collect from Citi China

Citibank (China) Co. has launched the Citi® Mobile Collect, as part of their receivables solution suite, following the introduction of its digital solutions E-Custom and E-Tax.

Citi China claim they are the first and only bank to offer mobile collection in China. The solution replaces cash collection with a secure, convenient mobile solution, settling funds in real time at the point of sale with immediate confirmation to both the buyer and seller, enabling customers in the consumer sector to directly collect from their distributors' account upon SMS confirmation and deliver goods upon a timely credit advice via SMS. The solution is also scalable to customers in other industries with direct distribution models.

E-Custom and E-Tax
At the end of 2012, Citi China launched their E-Customsservice based on the National Customs Electronic Payment System. At the same time Citi China also launched their E-Tax service through TIPS (Treasure Information Processing System) for Beijing and Chengdu branches. TIPS is a China nationwide system introduced by People's Bank of China  that links tax bureaus, banks and national treasury, through which the local tax and national tax payment could be processed via the electronic channel.

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