Citi unveils Citi Pay; launches global API developer portal
US banking giant Citi is launching its own branded mobile wallet – Citi Pay – to take on rivals such as Android Pay, Samsung Pay and PayPal.
Citi Pay will be available for Android phone users. To use it, customers load their Citibank card information onto the app (Android Pay, anyone?).
Shoppers can then use the app to make in-store purchases at any merchant equipped with NFC-enabled POS devices.
Citi has also partnered with MasterCard to enable Citi Pay users to pay for goods and services when shopping online. The bank says the functionality will be available across 33 countries.
Singapore, Australia and Mexico will get Citi Pay this year, while the US will have to wait until early 2017.
In other news, Citi has launched a new global API developer portal, which it claims to be the most comprehensive to date in the financial services industry.
Through the this portal, Citi will grant developers access to APIs across six usage categories:
- account management,
- peer-to-peer (P2P) payments,
- business money transfers,
- the Citi rewards programme,
- investment purchases,
- account authorisation.
More categories will be added over time, Citi says.