Citi To Make Its First Move into Mobile Payment

U.S.-based Citigroup will announce later this month the launch of contactless payment stickers in the United States, part of a possible national rollout, NFC Times has learned.

Citi plans to order some hundreds of thousands of the stickers for the commercial launch, NFC Times has learned. Customers will be able to attach the stickers to their phones or other devices to make low-value purchases. The Citi stickers are expected to be issued in several U.S. cities and carry a MasterCard PayPass credit application, which is accepted at about 70,000 merchant locations in the U.S., along with some taxis and vending machines, as well as locations abroad.

While the stickers are passive, that is, the payment application will not be able to communicate directly with the phone or mobile network–and Citi is ordering fewer than a million, at least for the first tranche–the launch could signal a larger mobile-payment initiative for the bank. More sticker orders could follow, as well as more sophisticated contactless-mobile payment devices, including NFC phones or contactless microSD cards, when these products become available.

This premium content is only available to subscribers.
Article has about 1060 words.

To Keep Reading, Subscribe Today

Get access to all premium content and the world’s first global newsletter devoted to the NFC and contactless markets by subscribing to NFC Times, the most authoritative source for news and analysis in the industry.

Subscription Options

Article comments

 
esampson Sep 7 2010

I think Citi definitely needs to make some sort of transaction alerts available for the purpose of if someone is using your phone who isn't authorized to be making charges. However mobile alerts might not be very product since someone else would have your phone. I think there is some good theory behind it, there are definitely some areas that can be improved upon though as with any new technological advance. Though I will say that when my bank started allowing mobile payments through my phone where i could pay my bills with my phone that was amazing and is still so useful to me. I have faith that this new technology will find a place in people's lives just like that did.

Please register or login to post a comment.

HEADLINE NEWS

Another Wearables Maker Enters ‘Pays’ Market with NFC-Enabled Device

NFC TIMES Exclusive Insight – U.S.-based device maker Garmin is the latest company to introduce an NFC-based mobile payments service in a smartwatch, today unveiling its “Garmin Pay” service for its forthcoming vívoactive 3 watch.

Struggling Fitness Band Maker Fitbit Announces Plans for NFC Payments Service with New Smartwatch

NFC TIMES Exclusive Insight – Struggling U.S.-based fitness band maker Fitbit announced today it will introduce an NFC-based payments service, “Fitbit Pay,” after it launches its first-ever smartwatch, the Ionic, promising to enable major issuers in more than 10 markets globally to offer contactless payments supporting the Visa, Mastercard and American Express brands.

Visa Ready Program May Not be Quite Ready for Tokenization Partners

Sep 15 2017

NFC TIMES Exclusive – The Visa Ready program, Visa’s effort to get new digital payments services to the market sooner by giving vendors a fast-track route for their products and technologies to be certified, may not be quite ready–at least as far as Visa’s tokenization partner program is concerned

NFC Transit Ticketing Rolled Out–Likely with HCE–on Beijing Subway System Following Large Pilot

NFC TIMES Exclusive Insight – The Beijing Subway and Beijing’s public transport payments company Yikatong Monday launched what appears to be an HCE-enabled mobile payments system on the entire metro system after piloting the service earlier this summer on one line.

Wal-Mart Starts to Expand ‘Scan & Go’ App; Experience Does Not Seek to Mimic Amazon Go Concept

NFC TIMES Exclusive Insight – Wal-Mart Stores has introduced a “Scan & Go” mobile-shopping and payments app for a limited number of its regular stores in five U.S. states, and said it plans to roll out the service more widely. It follows the launch last year of a very similar app for its warehouse store chain, Sam’s Club, as NFC Times has reported.

Alipay to Expand Acceptance of Mobile Wallet in Russia

NFC TIMES Exclusive Insight – Alipay is expanding acceptance in another overseas market, Russia, seeking to capture business from Chinese tourists who travel to the country.

Parties Could Settle Lawsuits Stemming from Dispute over Apple Value-Added Services Software

NFC TIMES Exclusive –  Software that enables consumers to tap to pay and earn or redeem rewards and other value-added services with Apple Pay is at the center of a legal dispute between Israel-based NFC and contactless reader vendor On Track Innovations and USA Technologies, a provider of payment technology for vending machines and other self-service retail locations.

Apple Discloses Plans for Four More Apple Pay Markets; Confirms Most Transactions Outside of U.S.

NFC TIMES Exclusive Insight – Apple Tuesday disclosed plans to launch its mobile payments service in four more small markets, including three countries in the Nordics, with the tech giant seeing higher usage of Apple Pay outside of the U.S., where NFC-enabled POS terminals are still not widely available.

Major Networks Seek to Capture–and Protect–Transactions by Introducing Global QR Code Specifications

NFC TIMES Exclusive Insight – Major payments networks, including Visa, Mastercard and China UnionPay, have released global specifications for QR code-based payments through their EMVCo joint venture because they see an opportunity to capture more transactions–and also a risk of losing transactions if they don’t support the technology globally.

As Use of Wallets for In-Store Payments Disappoint, P2P Payments to Surpass $120 Billion in 2017

NFC TIMES Exclusive Insight – Research firm eMarketer predicts that mobile peer-to-peer payments in the U.S. will grow by 55% to more than $120 billion in 2017, an amount that is expected to double by 2021.

Mastercard Launches Campaign to Push New Zealand Retailers to Accept Contactless Payments

NFC TIMES Exclusive Insight – Mastercard has launched an initiative to encourage retailers in New Zealand to adopt contactless payments, noting that nearly three-quarters of New Zealanders use contactless.

Banks and PayPal Announce More Deals for In-Store Transactions, But It’s Unclear When NFC-Enabled PayPal Wallet Will Arrive

NFC TIMES Exclusive Insight – Although Bank of America announced that its customers would “soon” be able to use the PayPal Wallet to pay for purchases in stores using NFC, a bank spokeswoman has told NFC Times that the NFC-enabled wallet might not even be available next year.