Citibank is teaming with California-based start-up Obopay to launch a pilot person-to-person mobile payment service for its credit and debit card customers.
The new Citi-Obopay service will enable pilot participants to make person-to-person fund transfers using their hand sets. As part of the service customers can pay for purchases using a companion debit card, which can also be used to withdraw funds at the ATM.
Customers can use the Obopay service by downloading the m-payments application to their hand sets. The system works on any Web-enabled mobile phone.
Participants will be able to remotely track and manage mobile payment accounts by using their phone to check balances, view payment histories and add funds.
Commenting on the service Amy Radin, chief innovation officer, global consumer group, Citi, says: "We are working with Obopay on this pilot to continue to meet our customers' needs to access their money the way many increasingly prefer - through their mobile phones - in a fast, convenient, and secure manner."
Citi says further details of the service, including cities for the consumer pilot, will be confirmed at a later time.
Obopay launched its mobile payments service in the US last year after raising $10 million in a series a financing round.
News of the Citi-Obopay m-payments service follows an annoucement earlier this month that Morgan Stanley's credit card unit Discover is working with Motorola to trial a mobile account management and payment service.