Mobile payments channel introduced by Citibank

The third quarter of 2008 in Hong Kong will be marked with the introduction of the Citibank Mobile Financial Services.

According to the bank the Citibank Mobile Financial Services may be implemented irrespective of the device and network. The service is said to be specifically designed to enhance the customer experience through improved download time, increased user friendliness, and simpler navigation and interface.

Customers provided with the service will be able to exercise trading of Hong Kong stocks; transfer of funds to Citibank accounts around the world using Citibank Global Transfer or any third-party accounts in Hong Kong via CHATS; payment of bills directly from Citibank accounts; retrieval of detailed balance of banking and credit card accounts for up to 30 days; and opening and renewal of time deposits for local and foreign currencies.

"Mobile phone penetration in Hong Kong is one of the highest in the world, and we see that there is an increasing trend for a more mobile way to conduct banking transactions to suit the busy lifestyle of Hong Kong people. As a result, we are introducing our mobile financial services in Hong Kong to enrich the customer banking experience with Citibank," said Maggie Yung, country marketing director of global consumer group at Citibank.