Citibank, Obopay to Pilot Mobile Person-to-Person Payment Service

The Citi Obopay consumer trial will commence in summer 2008 and will allow Citibank customers to receive and send money from their mobile phone directly into or out of their Citibank checking account. New and existing Citibank customers will be able to enroll in the Citi Obopay mobile payment service in a highly secure manner through Citibank.com or in Citibank branches in select markets.

Building on its long history of providing innovative, industry-first services built to serve customers’ needs, Citi introduced Obopay to select Citi customers last year during a limited consumer trial in Chicago and Boston. Response to this trial confirmed that consumers are eager to embrace services that directly address their changing lifestyle needs and give them fast and convenient access to funds through their mobile phones.

“Citi is a global leader in mobile phone-based financial services, and we are committed to continuing to offer integrated mobile financial services to address a wide range of our customers’ emerging needs.” said Dion Lisle, Senior Vice President, Growth Ventures and Innovation, Citi. “The Citi Obopay mobile payment service is designed around our customers’ lifestyle, and we look forward to their feedback on this consumer trial.”

From parents sending money to a daughter or son in college to family members sending money to loved ones far away to a friend reimbursing a friend for dinner, Obopay lets consumers send and receive money via their mobile phone in seconds. Citibank trial participants will be able to add the Obopay functionality to their existing checking accounts. Then, using the service’s mobile application, their mobile Web browser or text messaging, Citibank customers can send or receive money from others with the service directly from their mobile phones.

“As mobile phones become integrated into our daily lives, consumers are looking for ways to use their phones for daily tasks,” said Obopay CEO Carol L. Realini. “Citi has recognized that not only are mobile payments here to stay, but this is a service that consumers actively request and enthusiastically use. We’re proud to be working with Citi to fulfill their commitment to creating advanced services built around their customers’ lifestyles.”