Tap & Go

Citibank introduces MasterCard PayPass for debit customers

Published in CSP Daily News

NEW YORK -- Starting this fall, Citibank Banking Card cardholders in New York will be able to get through checkout lines faster. They will be able to make their purchases quicker with the new tap-and-go Citibank MasterCard PayPass, a free companion payment device to the Citibank Banking Card, Citibank's ATM/debit card.

Similarly, Citi will begin to pilot MasterCard PayPass for its credit card customers this fall.

The PayPass key fob device fits on a key chain for easy access, so customers can make payments on purchases with a [image-nocss] tap on a PayPass reader at participating merchants. The purchase is automatically deducted from their checking account. When the lights flash on the reader, the transaction is complete.

Following the initial launch in the New York market beginning this fall, Citibank plans to roll out 2.5 million PayPass debit devices across the country.

PayPass provides consumers with a simpler, quicker checkout experience in addition to the security they've come to expect when making purchases with a MasterCard card, said Cathleen Conforti, senior vice president and Global PayPass Product Manager, MasterCard International.

Other benefits include:

Tracking smaller purchases is easier than when paying with cash. No signature is required for purchases under $25 at select merchants. Earn ThankYou Points, redeemable for rewards, on all debit transactions for Citibank accounts enrolled in ThankYou Network. As with Citibank's traditional debit card, MasterCard's Zero Liability policy offers protection against unauthorized purchases. Additional security for the customer because the device never leaves his or her possession. The lack of personal details, such as name and card number, on the Citibank MasterCard PayPass provides further identity protection. Choice and flexibilityno minimum purchase amount required, maximum of $150 PayPass purchases per day. A growing number of participating merchants every day; for the most up-to-date list of merchants accepting PayPass, visit www.mastercard.com/paypass.

Customers will begin receiving their Citibank MasterCard PayPass companion in the mail along with their new Citibank Banking Card as the program is rolled out. To activate the companion Citibank MasterCard PayPass, they can call Citibank Customer Service or use their debit card at any ATM.

It is currently not available in Connecticut, New Jersey or upstate New York.