Citi Enters Mobile Wallet Competition with Citi Pay
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Citibank announced the launch of Citi Pay, the bank’s new digital wallet that will give customers a fast, simple option for online, in-app and in-store payments.
Citi has partnered with Mastercard to use its Masterpass system to enable these online and in-app transactions. To pay, customers will simply use their current Citibank online user ID and password to authenticate the purchase. The partnership with Mastercard means Citi customers can pay with Citi Pay at hundreds of thousands of merchants in 33 countries.
Android users will also be able to use the Citi Pay digital wallet to make in-store purchases. Shoppers simply need to tap their Android mobile device to any NFC-enabled terminal.
Later this year, Citi Pay’s tap and pay capabilities will expand to customers in Singapore, Australia and Mexico. In early 2017, online, in-app and tap and pay capabilities will be available in the United States, and more markets will follow.
“Whether it is online, on a phone, or at a store, we want Citi customers to have seamless, convenient and fast payment options wherever they go,” said Barry Rodrigues, Head of Global Digital Payments at Citi. “With more than 100 million customers in the fastest-growing cities in 19 countries, Citi is uniquely positioned to accelerate payment innovation on a global scale. With Citi Pay, we are offering our customers flexibility wherever and whenever they choose to make purchases.”