Citibank has partnered with Paytm to launch ‘Wallet Add-Money’ for customers to load their wallets via Citibank’s online and mobile banking platforms.
Through this Citibank customers can securely add-money to their Paytm account in three simple steps, without the risk of exposing their confidential card credentials.
Speaking on this occasion Kartik Kaushik, Country Business Manager, Citibank India, said, “Till date banks have treated Wallet service providers as competitors. We firmly believe that banks and service providers can collaborate to create unique digital solutions for customers. Our partnership with Paytm is a testimony to the customer-centric approach that leverages both our strengths. This is the first in the long list of exciting digital collaborations from us.”
Speaking on the announcement, Kiran Vasireddy, Sr. Vice President, said, “This is a historic step where
Paytm and Cititbank are joining hands to make add-money to Paytm wallet, a seamless process. Our users can add money to their wallet with a single click when they use Citibank’s internet banking. We firmly believe such collaborations will give further impetus to mobile payments in our country.”
Digitization has been a key strategic priority for Citibank, with over 95% its customer transactions being completed digitally. Further, over 85% of credit card payments at Citi are done online, which is one of the highest in the industry. Over one third of Citi’s customers are acquired online and this percentage has increased exponentially during the past few years.