Citibank Singapore and Visa have launched the Citi M1 mobile Visa payWave payment pilot in Singapore, a programme where a mobile phone will double as a credit card.
Citibank said that the Citi Visa pilot, supported by M1, enables Citi M1 Platinum Visa cardholders to pay for purchases using a Nokia 6212 classic at more than 750 merchant locations across Singapore. Participating merchants include cafes and restaurants such as The Coffee Connoisseur, Ichiban Boshi, book stores such as Popular and Harris and retail and music shops such as Gramophone.
Up to 300 selected Citi M1 Platinum Visa cardholders will be invited to join the three-month pilot which begins in May 2009. Cardholders will be provided a Nokia 6212 classic, a Near Field Communication (NFC)-enabled handset by M1. Citi M1 Platinum Visa cardholders purchase an item at a Visa payWave merchant by waving the mobile phone over a contactless reader at the point of sale.
The Citi M1 mobile Visa payWave pilot seeks to gain feedback and insight into consumers’ mobile payment behaviour and motivations. At the completion of the pilot, Citibank, M1 and Visa will evaluate opportunities to further develop mobile payment technology in line with Infocomm Development Authority of Singapore’s vision for interoperable NFC services in Singapore, added Citibank.
John Denhof, business director of credit payment products at Citibank Singapore, said: Citibank has consistently led the industry by introducing innovative products and services that enhance our customers’ banking experiences. This collaboration with Visa and M1 is testimony to our continuous endeavour to acquire new technologies that can provide enhanced convenience, accessibility and mobility for our customers.
