Citibank brings in paperless payment system for cardholders
The development makes Citibank India the first country franchise within Citigroup to launch an industry innovative mobile payment solution, which has been developed with its technology partner Ezetap.
Citibank said in a statement it has already partnered with seven leading brands for the launch of this service in India, where it would help its more than 320 million card customers to make payments through their debit and credit cards at the point of payment.
The new payment solution would help customers purchase a wide range of goods and services, pay insurance premiums, mobile phone bills, recharge mobile phones or buy movie, theatre and event tickets at the convenience of their home or office with their cards.
It would also allow customers to make card payments at the point of purchase itself at the retail outlets, thereby avoiding long queues at payment counters in these stores.
"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, ability to opt for EMI payment option while using this new payment alternative," said Anand Selvakesari, Country Business Manager, Global Consumer Group, Citibank India.
Flipkart, Shoppers Stop, Bajaj Allianz and Bookmyshow are among the brands that are at various stages of testing and implementation of this payment solution.
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