The Citi Plex Account Will Focus on Simpler, Smarter, Secure Money Management
Citi announced it has selected Mastercard as its network partner for the Citi Plex Account on Google Pay, a new digital checking and savings account built with financial wellness and mobile functionality at the core of the design to make managing money simpler, smarter and more rewarding.
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“We are pleased to leverage Mastercard’s many assets and capabilities, such as tokenization, for the Citi Plex Account to create an experience that is fully digital, and different, in banking and one that is unique to Citi.”
“Today, customers want an integrated experience where their relationship with their money operates at the same speed as the rest of their lives,” said Alpesh Chokshi, Head of Business Development for Citi’s Global Consumer Bank. “We are pleased to leverage Mastercard’s many assets and capabilities, such as tokenization, for the Citi Plex Account to create an experience that is fully digital, and different, in banking and one that is unique to Citi.”
Customers with a Citi Plex Account will receive a debit Mastercard, an auto provisioned instant digital debit card, with an option upon request for a contactless-enabled, physical debit Mastercard with access to Citi’s nationwide network of over 60,000 fee-free ATMs, the most offered by any major bank. In delivering both a digital and physical debit card offering, Citi Plex Account customers have the convenience and choice to pay when, where and how they want via debit card, smartphone or online.
“The consumer migration to digital banking was well underway and then the pandemic hit, turning the consumer’s desire for digital interactions into a need,” said Meredith Spatz, Executive Vice President in North America for Mastercard. “The acceleration of the move to digital has also opened the door for more collaborative work amongst technology and financial players – to drive new and enhanced solutions for consumers that not only address their need for digital interactions but also deliver new capabilities that give them increased control and insight over their personal financial management.”
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