Citi is nation’s biggest corporate credit card issuer
According to a recent study in the Nilson Report, based on transaction volume, Citi is used by more businesses regardless of size more often than corporate credit cards from any other issuer by a wide margin. It said that the reason is because Citi offers businesses more tools and online options for card spending than other lenders.
“We have continued to make great strides in the U.S. corporate card market,” said Hubert Jolly, Citi’s global head of commercial cards. “Even during the recent downturn, we continued to win business and have seen a substantial increase in the number of transactions flowing through our systems.”
Citi offers credit cards for business use in more than 90 countries around the world, and nearly 500 multinational corporations use their services as a result.
According to a recent report from the New York Times, Citi reported a profit of $2.7 billion in the second quarter of 2010, though that profit declined slightly from the first quarter.