Citi and Mastercard Launch Commercial Card Programs in Morocco

The Partnership Will Elevate Customer Experience and Business Spend Management

Casablanca, 8 March, 2024 – In a move to redefine business spend management in Morocco, Citibank Maghreb, in partnership with Mastercard will now offer local commercial card services and solutions, including travel and entertainment (T&E) as well as purchasing cards for businesses across the country. This innovative commercial card program will help businesses increase their operational efficiency and financial flexibility, enabling them to capture more corporate card spend. The service will be managed and operated by Citi Services Treasury and Trade Solutions (TTS) business.

The announcement was made at an exclusive launch event hosted by Citi and Mastercard in Casablanca in the presence of Her Excellency Marissa Scott, US Consul General. The event was attended by more than 100 distinguished guests, including senior executives from Morocco’s largest corporations and top management from both Citi and Mastercard.

Taoufik Rabbaa, CEO of Citibank Maghreb, said, “As Morocco’s economy continues to flourish and global travel is on the rise, our commercial card solutions are poised to help our clients grow their business and expand into new markets globally.. This launch is a significant step in expanding our TTS business, bringing our card network and technology to Morocco. The move will not only provide seamless services for inbound clients but also broaden the global network for clients headquartered in Morocco.

Khalid Elgibali, Division President for MENA at Mastercard, said, “Mastercard is not just a technology provider but a partner in progress for economies across the region. The launch of our commercial cards in Morocco in collaboration with Citibank Maghreb marks a significant milestone in our mission to build a more inclusive and sustainable digital economy. The move underscores our shared commitment to providing innovative payment solutions that meet the evolving needs of businesses. We are excited about the potential this partnership holds for enhancing the financial agility of companies in Morocco, helping them thrive in the dynamic global market.”

Mohamed Benomar, Country General Manager for MENA West at Mastercard, said, “At Mastercard, we are at the forefront of driving digital transformation in the payments industry, dedicated to adding value to the economies we serve. By joining forces with Citibank Maghreb, a pioneer in digital banking in Morocco, we are ideally positioned to enable companies to reach their full potential with our bespoke card solutions that bring speed, transparency and security to business transactions.”

Gonca Latif-Schmitt, Global Commercial Cards Head at Citi, said, “ We are thrilled to introduce more innovation to the Morocco market and go beyond the limitations of traditional card rails through our unique partnerships with fintechs and other companies. This includes card-based solutions that enable our clients to effortlessly pay all of their suppliers, capture more spend, and defend the business economics of their card programs while leveraging the benefits of control and visibility inherent in a card solution, all delivered through digital channels end to end.”

Citi Commercial Cards is a leading commercial card provider to large and multinational organizations globally and has advanced data and digital capabilities, that can support organizations’ spend management policies by providing increased transparency and control. These cards can be programmed with a variety of controls at point of transaction, and offer extensive spend reporting, which can be seamlessly integrated with clients’ enterprise resource planning and spend management systems, enhancing financial oversight and operational efficiency.

For more information regarding Citi Commercial Cards, please visit www.citicommercialcards.com.