Today, Citi announced it has selected Mastercard as its network partner for the Citi Plex Account on Google Pay, a new digital checking and savings account built with financial wellness and mobile functionality at the core of the design to make managing money simpler, smarter and more rewarding.
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“Today, customers want an integrated experience where their relationship with their money operates at the same speed as the rest of their lives,” said Alpesh Chokshi, Head of Business Development for Citi’s Global Consumer Bank. “We are pleased to leverage Mastercard’s many assets and capabilities, such as tokenization, for the Citi Plex Account to create an experience that is fully digital, and different, in banking and one that is unique to Citi.”
Customers with a Citi Plex Account will receive a debit Mastercard, an auto provisioned instant digital debit card, with an option upon request for a contactless-enabled, physical debit Mastercard with access to Citi’s nationwide network of over 60,000 fee-free ATMs, the most offered by any major bank. In delivering both a digital and physical debit card offering, Citi Plex Account customers have the convenience and choice to pay when, where and how they want via debit card, smartphone or online.
“The consumer migration to digital banking was well underway and then the pandemic hit, turning the consumer’s desire for digital interactions into a need,” said Meredith Spatz, Executive Vice President in North America for Mastercard. “The acceleration of the move to digital has also opened the door for more collaborative work amongst technology and financial players – to drive new and enhanced solutions for consumers that not only address their need for digital interactions but also deliver new capabilities that give them increased control and insight over their personal financial management.”
Citigroup, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.