Citi and Dandelion Collaborate to Transform Cross-Border Payments

Citi has partnered with Euronet's Dandelion platform to enable near-instant, full-value cross-border payments directly into digital wallets globally, expanding the reach of its institutional payment services.

The collaboration leverages Citi's WorldLink Payment Services to connect institutional clients with Dandelion's extensive network of digital wallet partners across Asia, Africa, and Latin America. The service enables businesses to send payments that arrive in recipients' mobile wallets within seconds, rather than routing through traditional bank-to-bank channels.

The digital wallet payout capability addresses a growing market need as mobile wallet penetration expands rapidly in emerging markets, where many potential payment recipients may not hold traditional bank accounts. By connecting to digital wallets, Citi's institutional clients can reach a broader population of recipients for disbursements, payroll, insurance claims, and supplier payments.

Dandelion, operated by payment technology company Euronet Worldwide, maintains connections to digital wallet providers across more than 100 countries. The platform handles the local compliance, currency conversion, and wallet connectivity needed to deliver payments into diverse mobile money ecosystems.

For Citi, the partnership extends its cross-border payment capabilities beyond traditional bank account endpoints, reflecting the reality that digital wallets are increasingly important payment destinations in many of the markets its institutional clients operate in.

The collaboration builds on Citi's earlier investment in 24/7 USD clearing and its broader strategy of enhancing cross-border payment speed, reach, and transparency for institutional clients.