Citibank to launch new digital wallet app

Citibank has partnered with MasterCard to introduce its own stand-alone digital wallet app, called Citi Pay.

Users will be able to make in-app or online purchases at hundreds of thousands of merchants across 33 countries using the new platform. And while the app is not available on iOS devices, Android users will also be able to make in-store purchases at contactless enabled terminals.

The app will be launched in Australia later this year, and Citi Pay will reach the US in 2017, with more markets to follow.

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"Whether it is online, on a phone, or at a store, we want Citi customers to have seamless, convenient and fast payment options wherever they go," said Barry Rodrigues, head of global digital payments at Citi. 

"With Citi Pay, we are offering our customers flexibility wherever and whenever they choose to make purchases."

To make using the Citi Pay app as easy as possible, customers will use the same ID and password they use for regular online banking, a feature enabled by MasterPass integration. 

The Citibank app is the latest in a line of digital wallet apps hitting the Australian market, including ANZ’s Mobile Pay, CommBank’s “tap and pay” digital wallet, Coles’ mobile wallet, Apple Pay, Android Pay and Samsung Pay.

Also read: End of the wallet era? Your go-to guide for using Apple Pay

Some banks other than Citibank that are in on the digital wallet trend include ANZ, Bank of Sydney, Australian Unity and People’s Choice Credit Union.

Want to find a credit card compatible with a digital wallet app? Check out our credit card comparison table.