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By improving cash flow, Citi Optimized Pay aims to enhance financial stability for small businesses, which make up about 90% of the country’s enterprises
Visa and Citi have partnered with African fintech firm Cellulant to launch Citi Optimized Pay, a card-based supply chain finance solution to accelerate payments to small businesses in Kenya. The platform, which leverages Cellulant’s Tingg payment gateway, allows Citi’s corporate clients to pay suppliers via commercial cards, reducing payment delays that often extend up to 90 days.
Suppliers, in turn, can receive funds through various channels, including bank accounts and mobile wallets. The move seeks. to address a major bottleneck in Kenya’s US$24.8 billion supply chain finance market, where current solutions meet just 7% to 10% of demand, according to the International Finance Corporation.
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By improving cash flow, Citi Optimized Pay aims to enhance financial stability for small businesses, which make up about 90% of the country’s enterprises. Visa East Africa Vice President Chad Pollock described the initiative as a step toward empowering businesses with “reliable cash flow solutions.” Cellulant Group CEO Peter O’Toole noted that the platform aligns with the company’s broader mission to deliver secure and innovative payment solutions.
