US financial giant Citibank NA has launched its newest credit card product — a first-of-its-kind credit scheme through mobile phones.
The 11th in the bank’s credit card series, the Citi Mobile will attain another level of convenience banking in the Philippines, bank officials said.
“The power of credit are now in their mobile phones,” said Mark Jones, Citibank country business manager and global consumer group head.
He said Citibank credit cardholders can now use their mobile phones as plastic money to order, for example, food, or pay bills.
“Citi Mobile allows the cardholder to “order, buy, pay” through the mobile phone,” Jones said.
That means cardholders enrolled in the new system can order from establishments such as Shakey’s, McDonalds and SheLikesFlowers.com for home delivery; buy Internet loads from Blast; load up for calls or text messaging in Smart, Globe or Sun; pay utility bills like electricity, water and postpaid phone subscription.
Jones pointed out that there are no hidden costs in using the Citi Mobile. “If you order a Shakey’s pizza through Citi Mobile, it will be the same price as advertised. The telcos get their usual income from standard SMS, and we charge the usual card fees,” he said.
He added that the potential in terms of expansion of the new card is limitless. “At the least, we hope that the all present Citibank cardholders will enroll in Citi Mobile.”