Citi and Obopay Launch Person-to-Person Mobile Payment Pilot Service for Citibank Customers

NEW YORK AND REDWOOD CITY, Calif., Oct 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- C | Quote | Chart | News | PowerRating -- Participants can send, spend and receive money instantly through their mobile phones

Citi (NYSE: C | Quote | Chart | News | PowerRating) today announced that it has launched the pilot of a new mobile person-to-person money transfer service with Obopay, a pioneering service provider for payments via mobile phones, to new and existing Citibank customers. Beginning on October 14, 2008, the Citi Obopay mobile payment service will be offered to all Citibank customers in the U.S., with a focus on Boston, Chicago, Maryland, Philadelphia, and New Jersey.

This is the first time that a real-time, person-to-person mobile money transfer service with the ability to link directly to a bank account has been offered in the U.S.

Citibank customers participating in the pilot program can activate and connect the mobile service to their Citibank checking account or setup up a new mobile payment account at citi.obopay.com. Then, using their phone's Web browser, SMS text messaging or the downloadable mobile application, customers can send and receive money nearly instantly needing only the mobile phone numbers of friends and family members.

"Citi is proud to introduce the Citi Obopay mobile payment service to our Citibank customers - the first of its kind in the U.S.," said Debby Hopkins, Chief Innovation Officer, Citi. "Citi's goal is to be everywhere our customers need us to be and interact with them however they choose - in person, online, while in transit or on their mobile phone. To meet this goal, we are continually developing new customer experiences and partnering with best in class technology providers, like Obopay, to create innovative, first-to-market products and services."

"Obopay and Citi are answering mobile customers' needs to access their money quickly, conveniently, and securely," said Carol Realini, Obopay's Chief Executive Officer. "Whether it's parents sending funds to a daughter or son in college to friends reimbursing each other for dinner, Citi Obopay makes it quick and easy."

Citi and Obopay first joined forces in 2007 when Citi became an equity investor in Obopay and launched a consumer trial with Citi customers in select U.S. markets.

The Citi Obopay mobile payment pilot is one of many innovative solutions Citi is rolling out around the world. In addition to mobile, Citi is developing and delivering products and services for customers who commute via public transit, manage their money online, and are seeking a more convenient retail branch experience. Citi's goal is to be everywhere our customers need us to be by providing a superior customer experience by offering innovative, industry-leading products and services that drive our customers' success.

For more information, log on to citi.obopay.com.

About Citi

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.

About Obopay

Obopay, Inc. (www.obopay.com) is a pioneering service that lets consumers and businesses purchase, pay, and transfer money through any mobile phone using Obopay's mobile application, text message, mobile Web, or Obopay.com. As the first mobile payment service created exclusively for the mobile phone, only Obopay works on any phone and any carrier to empower consumers and businesses with the convenience of mobile payments. Obopay is bringing mobile payments to more consumers through industry-first alliances and is headquartered in Redwood City, California.

SOURCE Obopay, Inc.; Citi

http://www.citi.com