Citi Korea announced on the 13th that it is strengthening global B2B payment cooperation with Yanolja and expanding the application of Citi's virtual card solution.
Virtual cards are a payment solution that issues one-time or purpose-specific card numbers for business-to-business transactions, supporting control, transparency, and automation in multi-country B2B dealings. Yanolja has integrated Citi's global B2B payment system into its enterprise solution member companies, enabling consistent operational frameworks and control standards across multi-country transaction environments.
Payment infrastructure serves as a critical factor determining the stability and expansion speed of global business operations, beyond being a simple settlement method. Citi's virtual card solution enables companies to expand into new markets while maintaining existing operational systems without large-scale system overhauls. Through this, corporate clients can separately manage transactions by country, legal entity, and business unit while centrally integrating global payment flows, achieving operational efficiency, cost reduction, and shorter time-to-market.
The two companies plan to pursue multifaceted cooperation for overseas market expansion by strengthening risk management capabilities—including AI-powered fraud detection, settlement automation, and cost optimization—and expanding global financial and payment infrastructure.
Gunjan Kalra, Citi's Head of Commercial Banking for Japan, North Asia, Australia (JANA) and South Asia, said, "We will support the global expansion of mid-sized companies worldwide, like Yanolja, through integrated infrastructure that supports both the stability and speed of global growth."
Lee Su-jin, Group CEO of Yanolja, emphasized, "The partnership with Citi is an important strategic milestone for building next-generation payment infrastructure specialized for the global travel industry. By combining Yanolja's platform capabilities with Citi's global financial infrastructure, we will lead digital transformation and payment innovation in the travel industry."
