Participants can send, spend and receive money instantly through their
mobile phones
NEW YORK AND REDWOOD CITY, Calif., Oct. 14 /PRNewswire-FirstCall/ --
Citi (NYSE: C) today announced that it has launched the pilot of a new
mobile person-to-person money transfer service with Obopay, a pioneering
service provider for payments via mobile phones, to new and existing
Citibank customers. Beginning on October 14, 2008, the Citi Obopay mobile
payment service will be offered to all Citibank customers in the U.S., with
a focus on Boston, Chicago, Maryland, Philadelphia, and New Jersey.
This is the first time that a real-time, person-to-person mobile money
transfer service with the ability to link directly to a bank account has
been offered in the U.S.
Citibank customers participating in the pilot program can activate and
connect the mobile service to their Citibank checking account or setup up a
new mobile payment account at citi.obopay.com. Then, using their phone's
Web browser, SMS text messaging or the downloadable mobile application,
customers can send and receive money nearly instantly needing only the
mobile phone numbers of friends and family members.
"Citi is proud to introduce the Citi Obopay mobile payment service to
our Citibank customers - the first of its kind in the U.S.," said Debby
Hopkins, Chief Innovation Officer, Citi. "Citi's goal is to be everywhere
our customers need us to be and interact with them however they choose - in
person, online, while in transit or on their mobile phone. To meet this
goal, we are continually developing new customer experiences and partnering
with best in class technology providers, like Obopay, to create innovative,
first-to-market products and services."
"Obopay and Citi are answering mobile customers' needs to access their
money quickly, conveniently, and securely," said Carol Realini, Obopay's
Chief Executive Officer. "Whether it's parents sending funds to a daughter
or son in college to friends reimbursing each other for dinner, Citi Obopay
makes it quick and easy."
Citi and Obopay first joined forces in 2007 when Citi became an equity
investor in Obopay and launched a consumer trial with Citi customers in
select U.S. markets.
The Citi Obopay mobile payment pilot is one of many innovative
solutions Citi is rolling out around the world. In addition to mobile, Citi
is developing and delivering products and services for customers who
commute via public transit, manage their money online, and are seeking a
more convenient retail branch experience. Citi's goal is to be everywhere
our customers need us to be by providing a superior customer experience by
offering innovative, industry-leading products and services that drive our
customers' success.
For more information, log on to citi.obopay.com.
About Citi
Citi, the leading global financial services company, has some 200
million customer accounts and does business in more than 100 countries,
providing consumers, corporations, governments and institutions with a
broad range of financial products and services, including consumer banking
and credit, corporate and investment banking, securities brokerage, and
wealth management. Citi's major brand names include Citibank,
CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional
information may be found at http://www.citigroup.com or http://www.citi.com.
About Obopay
Obopay, Inc. (http://www.obopay.com) is a pioneering service that lets
consumers and businesses purchase, pay, and transfer money through any
mobile phone using Obopay's mobile application, text message, mobile Web,
or Obopay.com. As the first mobile payment service created exclusively for
the mobile phone, only Obopay works on any phone and any carrier to empower
consumers and businesses with the convenience of mobile payments. Obopay is
bringing mobile payments to more consumers through industry-first alliances
and is headquartered in Redwood City, California.
|
