Citi Could Shut Down High-Tech Card Program

By  |  December 26, 2012
 | 

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

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    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.

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    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.”

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