Citi/Mastercard beats Visa/BAC to market

April 8, 2010 2 Comments

8 April 2009

Great Article

http://www.nfctimes.com/news/citi-makes-its-first-move-mobile-payment

As a friend told me this week “if you put an NFC sticker on a bicycle.. is that mobile payment?” Sure a sticker on the back of a phone is not necessarily “Mobile payment” but NFC has taken so long.. who cares? Lets just get started!

Will Citi/MasterCard beat BAC/Visa to market with a US NFC sticker rollout?… Regardless of who is first out of the gate,  I think it will be a win/win for both institutions as significant marketing money is necessary to get this moving. Citi has the upper hand w/ numerous NFC pilots, established card marketing and 55M card accounts.

Although Citi is first out of the gate, Visa has put together a much more impressive array of services which will work for any card and any bank, with more thoughtful “integration” (See FirstData/Device Fidelity/Monitise).

“Let the NFC games begin”.

Note to NFC times:

This US initiative did not originate in Citi’s growth ventures, but rather with US Cards (likely led by mobile guru Kurt Weiss).

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About tomnoyes
International Retail Bank - Internet Head for Citigroup. $500MM P&L, Employees in 40 countries. Responsible for driving Citi's international consumer business outside the US, online and on the phone. Prior business owner of #1 Online Bank in the U.S.: Wachovia.com. #1 Online Bank Brand, #1 in Customer Acquisition, #1 Customer Satisfaction, #1 Customer Loyalty (2005 Keynote, 2005 ACSI).. $170M P&L. 2M+ Customer interactions per day, $30B+ payments per year. Global Product/Sales/Consulting efforts world wide. Chartered to ensure success of international equity investments and joint ventures. Experience with global rollout and early adopter programs in U.S., Europe and Asia. Direct experience in over 32 countries. “C” level interface with over 30 global 100 companies (some listed below). Identify, create and manage alliances with global partners.

2 Responses to Citi/Mastercard beats Visa/BAC to market

  1. Dana LeMoine says:
    April 9, 2010 at 10:04 am

    Tom – You reference a FirstData/Tyfone post, but there is no link. Do you have a post on your blog for FirstData/Tyfone?

    Reply

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