Citibank has launched its very own digital wallet called Citi Pay, to challenge those from Apple, Samsung Google and JPMorgan Chase.
The newly launched payments service is based on MasterCard’s MasterPass platform, making the wallet available at large number of online merchants across 33 countries at launch.
The bank said the wallet service will enable its customers with Android devices to make online and in-app purchases using the same online user ID and password that they currently use to manage their existing banking relationship.
The bank will launch Citi Pay to customers in Singapore, Australia, and Mexico later this year. It will be rolled in the US only in early 2017, with online, in-app and tap and pay capabilities.
The bank added that it intends to launch the service in additional markets at a later time.
Commenting on the launch, Citi head of global digital payments Barry Rodrigues said: “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.”
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Earlier this year in the US, Citi joined Early Warning’s clearXchange network, which will enable Citi’s online and mobile banking customers to send or receive real-time person-to-person (P2P) payments to or from customers of participating network banks.
Also in 2016, Citi enabled Samsung Pay for its card members in Singapore and Australia.