Citi Could Shut Down High-Tech Card Program

What's Next In Payments®
3:28 PM EDT December 26th, 2012

Citi is close to shutting down its 2G high-tech payments card program, according to American Banker.

The card, which is battery-powered and developed in conjunction with card tech company Dynamics, has been in development for over two years, and was originally planned for a 2011 rollout. American Banker cited two anonymous industry sources who said they believed Citi will nix the program soon.

Jeff Mullen, CEO of Dynamics, said the card program is not in danger of being cancelled, e-mailing, “Dynamics affirms Citi’s statement regarding the on-going Citi 2G program.”

Read the full story here.

Comments
Also by This Author
What's Hot
News
Mobile Payments Fuel Starbucks Growth
Merchant Innovation
ATM Networks Join Forces Against Fraud
News
Amazon Stock Tumbles on Losses
Merchant Innovation
MoneyGram Beefs Up Exec Ranks
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
The FI Payments’ Innovation Survival Kit
Alternative Financial Services
“Embrace Innovation” (Or Else Suffer The Consequences)
News
Mobile Payments Fuel Starbucks Growth
Hmmm
Visa Unveils Major Digital Moves
View All Articles ››