BankTech

Smart Communications and CitiBank Philippines Collaborate for Mobile Payments

On 19th May 2014, it was announced that the mobile financial services subsidiary of Smart Communications partnered with CitiBank Philippines for settlement of bills utilizing mobile payments.

"Partnering with Citi Philippines and Visa, both global leaders in their respective industries, underscores our aspiration to provide the best innovative payments products in the market,” stated PLDT Group and Smart chairman, Manuel V. Pangilinan, in a statement. “Smart e-Money, being a global pioneer in the mobile money domain, is well positioned to be more aggressive in raising the ante and  in becoming to be the leader in enabling, engaging and empowering its target consumers,” he added.

  • This collaboration between Citi and Smart e-Money Inc seeks to offer the multinational bank’s existing clients with innovative methods of settling bills as well as paying for purchases, with the support of Visa.
  • They will utilize various mobile technologies, tapping Smart's mobile financial services platform.
  • Smart is the mobile unit of Philippine Long Distance Telephone Co.
  • According to Citi, over 50% of its client base access accounts digitally.
  • The tie-up with Smart comes a year after the bank launched a new payment technology, the Citi Visa payWave.
  • This enables cardholders to simply wave their card next to an activated terminal to pay for tiny purchases.
  • The payWave cards are now used in groceries, cinemas and coffee shops among others.

“At Citi, we want our clients to have a remarkable experience each and every time they choose to pay with our credit cards. This collaboration affords us the opportunity to deliver again on this promise, and we are committed with Smart and Visa to anticipate the needs of our consumers and go beyond market expectations,” stated Batara Sianturi, Citi Philippines chief executive. “We will no doubt raise the bar anew when we redefine mobile payments when we disclose more details around this partnership," he added.

“Visa is committed to working with innovation partners like Smart e-Money and Citi to provide Filipinos with secure, faster and more convenient ways to pay,” said Gordon Cooper, Visa's Group country manager. "We are looking forward to using our expertise in innovations such as Visa payWave contactless payments to help to develop solutions that will enhance the payment experience and make everyday transactions easier for our Visa cardholders."

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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