The Indian arm of global banking giant, Citibank, Citibank India, has launched a new mobile payment mechanism for its credit cards and debit cards customers. The new system will facilitate paperless payments and will be implemented in its branches across the globe.
Reportedly, Citibank India is the first country network within the group to introduce such an innovative mobile payments system. This system has been developed in collaboration with Citibank's technology associate Ezetap.
To announce this development, Citibank issued a statement which said that it has collaborated with seven popular brands to launch this facility in the country for the benefit of its 320 million and more carholders. With this service its credit card holders and debit card holders will be able to make their card payments at the point of payment itself.
On the occasion, the Country Business Manager, (Global Consumer Group) of Citibank India, Mr. Anand Selvakesari said, "The secured paperless transaction not only does away with managing charge slips but also combines the many benefits enjoyed by Citibank card customers, including instant redemption of reward points and ability to opt for EMI payment option while using this new payment alternative."
He further added, "The industry's first fully certified and secured mobile payment solution from Citibank, seeks to change the way payments are made for products and services of daily use in India, just as the first ATM pioneered by Citi in 1977 revolutionised the concept of cash withdrawal worldwide."