Citi and Obopay Deliver First Mobile Payment Service to Consumers |
Innovative service lets Citi customers send, spend and receive money
through their mobile phones
BOSTON, July 26 /PRNewswire/ -- Citi (NYSE: C) today announced that it
will begin piloting a new mobile peer to peer payment service with leading
mobile payments provider Obopay. The mobile payment service will be
initially offered to select new and existing Citi customers as part of a
limited consumer trial in Boston and Chicago.
"Citi is committed to delivering best in class payment solutions to our
customers and deploying innovative technology that offers greater speed and
convenience," said Raja Rajamannar, Executive Vice President, Citi Cards.
"We are working with Obopay to continue to meet our customers' needs to
access their money the way many increasingly prefer -- through their mobile
phones -- in a fast, convenient, and secure manner," added Steven Kietz,
Head of E-Commerce and Direct Banking at Citi's Retail Distribution North
America.
From parents sending funds to a child in college to a friend
reimbursing a friend for dinner, peer to peer payments allow consumers to
instantly, conveniently and securely send and receive money via their
mobile phone. Select Citi customers participating in the trial can add
money to their mobile payment account via http://www.citi.obopay.com through
credit card or electronic bank transfer. Then, using the Obopay mobile
application, their mobile Web browser or text messaging, Citi customers can
manage their mobile payment account directly from their mobile phone.
Citi trial participants will be able to check balances, view payment
histories, and add funds to their mobile payment account. Funds received
via the mobile payment service can also be accessed with a prepaid debit
card to be provided with the service.
"Together, Citi and Obopay are giving American mobile consumers power
over their money no matter where they are," said Obopay CEO Carol L.
Realini. "Obopay is built for today's mobile lifestyle, making cash
available to consumers anytime they need it. We're excited to bring this
innovative service to select new and existing Citi customers."
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. Major brand names under the trademark red arc include:
Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex.
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 provider for
payments over mobile phones. Only Obopay delivers instant and effortless
payment solutions that allow consumers, merchants, banks and carriers to
easily embrace the power and convenience of instant mobile payments. The
company is bringing mobile payments to more consumers through
industry-first alliances. Obopay is a 2007 Fierce 15 Wireless Company
headquartered in the San Francisco Bay Area.
SOURCE Obopay, Inc.
back to topRelated links:
CONTACT:
Samuel Wang of Citigroup Global Consumer
Group Public Affairs, +1-212-559-0499, wangs@citigroup.com; or
Erin Mitchell, +1-212-741-5106 x233, obopay@RLMpr.com, for Obopay
