Citi Bank has introduced 'Citi Tap and Pay' here, in India the 'contactless credit card payment system' which will give customers the convenience of using their mobile phone as a credit card.
This new technology is based on Near Field Communications (NFC) technology in collaboration with Nokia, Vodafone, MasterCard and VIVOtech.
Jeff Semenchuk, executive vice-president and head of growth ventures, Citi Innovation informed reporters, "The launch of Citi Tap and Pay pilot service will be one of the world's largest pilots ever undertaken, establishing a fully secure scalable and interoperable mobile payments ecosystem in Bangalore".
By using this technology customers will be able to tap their mobile phone on a contactless reader at the point of sale to pay for purchases, instead of traditional swiping of credit cards, he said.
Jeff added this service will also do away with the need for customers to send SMS or incur mobile data charges to make these payments.
Nokia will offer the service with the support of NFC-enabled Nokia 6212 classic phones, which will replace the multiple of cards in consumer wallets. Vodafone network operator will provide the platform for the pilot service while MasterCard will offer its MasterCard PayPass contactless payment and security infrastructure.
ViVOtech is providing the primary technology including the NFC wallet, the Over-the-Air (OTA) card provisioning software, the mobile coupon application in addition to contactless readers to the merchant who are opt for this technology to accept payments, N Rajashekaran, Country Business Manager, Global Consumer Group, Citi India, informed.
the new NFC-capable Nokia N 6212 classic phone will be pre-loaded with Citi Tap and Pay applications enabled with MasterCard's PayPass contactless payment technology so the can purchase at designated Nokia stores, he said.
This will enable the customers to securely execute an Over-The-Air download of their Citibank MasterCard credit card on to their mobile phone. Once custom-made, customers credit card on the phone is ready and can use the phone to make Tap and Pay transactions with the merchants having Citi Tap and Pay and MasterCrd PayPass readers, Rajashekaran informed.
The sources said Citi Tap and Pay transactions are absolutely secure as it require a PIN validation. The contactless payment transactions will be automatically charged to a customer's Citibank MasterCard card account.
Rajashekaran informed, "Out of Citibank's four lakh customers in Bangalore, we are looking at 5,000 for this pilot project which will continue for six months".
Citibank’s customers can purchase NFC-Capable Nokia N 6212 at an inaugural price of Rs 5,000 originally it is priced at Rs 11,650.
Subscribe to:
Post Comments (Atom)
7 comments:
Hi,
Do you have a list of all merchant shops that are participating in the Citi Tap and Pay?
Thanks,
Taj
You will find the list at:
http://www.online.citibank.co.in/mobile/Merchant-outlets-1.pdf
I have a CitiBank Platinum VISA card for last 10 yrs & with a good credit history. To participate in this Tap N Pay pilot can CitiBank give me a CitiBank Platinum MASTER card ? And how to handle this ? If yes, how much time will it take for my MASTER card to come & will the Tap N Pay offer be open till that time ?
Abhijit, You need to have a Citibank-Vodafone co-branded Credit card to participate in Citi Tap and Pay (So Vodafone postpaid connection is a must). I think the offer is open till end of october.
I got it sorted. There is no Citibank-Vodafone co-branded Credit card. It is like this:
- I need a CitiBank Master Card
- I need to have a Vodaphone SIM with GPRS enabled.
The experience was good so far, for me & a few other friends. We got CitiBank MasterCard + Vodaphone SIM + got a call from CitiBank to tie these 2 & then recently got the invitation letter from CitiBank. We now have to take this to Nokia Priority dealer & buy the phone with Rs. 5000/-
Hello,
Do we need to necessarily have a GPRS connection ?
Will it work if i change the sim card after activation ?
Could anyone pls clarify..
GPRS connection is a must for installing the application and for downloading offer coupons in the stores. It would still work even if you change the sim card.
Post a Comment