Citibank will be offering its first fully integrated and certified mobile payment solution. The product is being launched by Citibank India and will be made available to 320 million Citibank card customers in India, the company said.

Citibank India didn't provide specifics on the new product, but said it will use a small device developed by partner Ezetap Mobile Solutions that plugs into a smartphone or tablet. The solution will not only handle payments but will also give Citibank card customers the same benefits they have now such as the ability to instantly redeem reward points and earn accelerated rewards.

"We consistently innovate to delight our customers with solutions based on consumer insights that are simple, secure and easy to use. The industry-first fully certified and secured mobile payment solution from Citibank, seeks to change the way payments are made for products and services of daily use in India," said Anand Selvakesari, country business manager, Global Consumer Group, Citibank India. He added that Citibank India believe the new solution could change the way payments are made by consumers in India.

Citibank India said it already has partnerships with several leading brands for its mobile payment product including Flipkart, Shoppers Stop and Vodafone. Customers will be able to make purchases both online from their mobile devices as well as at the point of sale using the new service.

"Our partnerships with leading brands in India stand testimony to the fact that the solution is already a market leader driving digital payments in our country," said Muge Yuzuak, country head of Cards and Personal Loans, Citibank India. "We believe that this payment and collection device has the potential to dramatically increase the penetration of card terminals from the current low level of 700,000 units in India."

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