Citibank Korea Inc. is working with South Korea-based telecommunication operator KT Corp. to launch a free mobile wallet for its credit cardholders called Citi Mobile Card, the issuer announced Dec. 21.
The alliance with KT, South Korea’s second-largest wireless services provider, will enable the bank’s cardholders to download their existing credit card information wirelessly to a mobile phone USIM chip, according to a Citi press release.
To use Citi Mobile, cardholders would need to tap their mobile phone on a contactless reader at the point of sale to pay for purchases. For now, only holders of the Citi Reward Citi Shinsegae Quattro Card may download their card information to their mobiles, the press release adds.
Any merchant with a MasterCard PayPass or Visa payWave-enabled terminal can accept Citi Mobile Card transactions.
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