Citi India has unveiled a commercial credit card for the Indian corporates. The significance of this card is that it comes with an embedded chip which captures the transaction information as soon as the card is used and sends the data to the corporates transaction management system. This helps in the cumbersome reimbursement and approval procedures.
The card also offers uniform global solutions to integrate expenses from all their branches around the world meeting accounting requirements of that particular country covering 45 countries. The card can also limit / restrict purchases to certain categories according to corporate rules. The card has been issued in association with VISA and MasterCard.
Individuals as well as Small Businesses may not be eligible for this card.