Singapore, Australia and Mexico: Citibank Brings Digital Global Wallet
As one of the popular global banks that have been zigzagging with the Blockchain technology, Citibank has made an announcement to the public of launching a digital wallet that will offer their customers with an option for an online, an in-application and also in-store payment necessitates.
The launch of the Citi Pay accompanies the bank right into the mobile market in which it is dominated by the leading brands similarly to PayPal, Apple Pay and also the Samsung Pay.
The wallet in which was the most recent digital payments statement right from the bank and also will first launch in the countries like Singapore, Australia, and Mexico together with the tap and pay aptitudes, and also a global rollout will follow right for the customers as a digital extension of their current card relationship. And it will also launch right in the United States of America in the early year of 2017, together with an online, the in-app and also the tap and pay capabilities. Right in the United States of America in earlier this year of 2016, Citibank has made a venture with the Early Warning’s clearXchange network to make possible it’s online and mobile banking customers to be able to send or receive a real-time person-to-person or P2P payments to or from the customers of the participating network banks. It also enables the Samsung Pay for its card members residing right in Singapore and Australia at the same time.
With more than and the summation of over 100 million customers coming from the major cities all across and around the rundown of the 19 countries, Citibank has crystallized the idea of the Blockchain technology as a welcome addition right into the bank’s infrastructure. Right in the Blockchain sphere, the bank right in the United States of America Digital Banking, a report in which was published last June, entitled with the, “Could The Bitcoin Blockchain Disrupt Payments?” in which examined on how the technology will threaten the traditional banks’ place right in the economy. And it also elaborates on how the payment system in which was based on the technology behind the Bitcoin and as combined with the other innovations, perhaps it can fundamentally change the financial service sector; and it must be an outlook as a great opportunity.Right at this very moment, the Citibank was also working right with the Blockchain startups in particularly with the Chain who had built the Blockchain networks. Nevertheless, it has remained and yet still conservative right on continuing the relevance of the centralized, and traditional settlement systems.