Citigroup markets and banking has acquired Ecount, Inc, a provider of corporate prepaid card implementations, based in Conshohocken, Pennsylvania. Ecount’s products will be integrated into Citi’s global transaction services business. Terms of the agreement were not disclosed.
“Our clients are constantly looking for better ways to make payments, and with Ecount’s innovative and comprehensive prepaid programs, we will be able to offer them the latest payment solutions,” says Ellen Alemany, Chief Executive Officer of global transaction services at Citi.
“Working with Citi is the ideal choice for Ecount,” says Matt Gillin, CEO and Co-founder of Ecount. “Citi is a global leader in banking, with robust payment platforms, deep client relationships and innovative technology.
“This matches Ecount’s position in the prepaid card market. Together, we will be able to optimize and strengthen our position in this expanding market, by developing world-class solutions.”