Post this partnership, Citibank has announced a new paperless mobile payment system for its credit and debit card customers that would do away with the charge slips and would be implemented for the entire global network of its US-based parent Citigroup.
The new system can work through a dongle, which can be plugged into smart phones and tablets and is compliant with the global security standards developed by the Payment Card Industry Security Standards Council.
“The secured paperless transaction not only does away with managing charge slips but also combines the many benefits enjoyed by Citibank card customers, including instant redemption of reward points, ability to opt for EMI payment option while using this new payment alternative” [source]
EzeTap has raised funding from Peter Thiel, Chamath Palihapitiya and Yammer’s David Sacks and recently, another mobile PoS company, MobiSwipe raised funding from One97 fund and Mswipe raised funding from Matrix Partners.
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