Citibank India (Citi) has launched a new mobile payment solution that it claims will give customers the opportunity to make payments through their debit and credit cards using a small device.
The new system by Citi has been developed in partnership with Bangalore based technology company Ezetap Mobile Solutions and can be plugged into smart phones and tablets.
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According to Citi, customers will now be able to purchase a wide range of goods and services, pay insurance premiums, mobile phone bills, recharge mobile phones or buy movie, theatre and event tickets through their cards.
The payment solution will also allow customers to make card payments at the point of purchase at retail outlets and do away with charge slips.
Citi said they had partnered with seven leading brands in India, including Vodafone.
Anand Selvakesari, country business manager, Citibank India, said: "The solution had the potential to change the way payments are made in India, the same way ATM machines pioneered by Citi in 1977 revolutionised the concept of cash withdrawal worldwide."
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By GlobalData
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