Citibank joins network of banks on Samsung's Singapore mobile payment service
SINGAPORE - Holders of Citibank credit cards will soon be able to make mobile payments with their Samsung mobile phones when the electronics giant launches its Samsung Pay mobile payment service in Singapore this year.
Samsung first announced in April that Singapore will become the first market in Southeast Asia and just the fourth in the world to have the mobile payment service when it is launched in the second quarter of 2016.
Other than Citibank, consumers with Visa or MasterCard debit or credit cards issued by DBS, POSB, OCBC and Standard Chartered will be able to use Samsung Pay.
With Samsung Pay, customers can make payments simply by swiping their mobile phones and scanning their fingerprint or keying in a personal identification number (PIN).
Samsung and Citibank described the collaboration as a win-win for both parties. Samsung will be able to leverage on Citibank's customer base and merchant network, while Citibank cardmembers with Samsung phones will enjoy greater convenience in the payment process.
Mr Eugene Goh, vice president of IT and mobile at Samsung Electronics Singapore, said that the partnership with Citibank meant that customers will be able to enjoy the benefits of using Samsung Pay almost anywhere in Singapore.
Samsung Pay will be available to users of the Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+. It will be compatible with most existing and new payment terminals.