Thailand: Mobile Payment Partnership Launched by Citi, mPay & Prudential

Bangkok – An alliance between Citi and Thailand’s leading telecom and insurance companies, mPAY and Prudential, will permit customers to conveniently make insurance payments via a mobile phone.

Prudential policyholders can make insurance premium payments 24 hours a day, seven days a week, across Thailand at their convenience. After the payment is made, policyholders will receive an SMS to confirm the receipt and verify the payment transaction.

The cooperation among three partners will enhance customer satisfaction for Prudential policyholders through the use of modern technology from mPAY and safe and secure financial services from Citi.

Mr. Peter Eliot, Citi Country Officer, Citibank, N.A. Thailand said, "Citi continues its tradition to provide the best innovative cash management solutions to our customers. Today, with the collaboration with mPAY and Prudential, we are launching a new payment channel called M-Collect, which allows users to access financial services from a mobile phone as the point of payment transaction initiation.

“Prudential customers will benefit from this as an alternative payment channel from traditional channels such as counter services, post offices, ATMs, cashier checks, etc., and for ease and convenience to execute transactions at any time and from any location nationwide.”

Mr. Waroonthep Watcharaporn, Managing Director of Advanced mPAY Co., Ltd., disclosed, "As the mobile phone based financial transaction service provider facilitating users in making payment for products and services every time and anywhere, mPAY has recently cooperated with Citi and Prudential in the launch of service for AIS customers to pay insurance premium for every Prudential insurance policy easily on mobile phones with no service fees. Interested customers may apply for the mPAY service by dialing *555 and calling.

“Customers can lay assured of security when doing financial transaction through mPAY with the message to confirm service and virtual transaction verification through www.mpay.co.th.”

Ms. Somnuk Wiwatana, Vice President, Finance, Accounting & Investment, Prudential Life Assurance (Thailand) Public Co., Ltd. said, "It is always Prudential’s policy to provide the best products and services to our customers. The newly introduced service, through the cooperation from leaders of telecommunication technology like mPAY and leading bank like Citi, is another milestone in extending the company’s reach to the young generation group which prefers new and modern technology, as they can use their mobile phones to make premium payments.

“The company’s objective is to extend more quality services to cover all segments of customers. It offers policyholders more options in making premium payments to match with their lifestyles, apart from traditional channels like cash payment, paying at banks or at post offices, which is usually time-consuming.”

AIS customers buying insurance from Prudential can apply to pay the premium on their mobile phones with mPAY today simply by dialing *555 and calling. For more information and details on payment call CitiService on 0-2232-3000 or go to www.transactionservices.citigroup.com.

For mPAY application information, contact 1175 or go to www.mpay.co.th. For details of Prudential Insurance please call 0-2267-3700. Existing customers can apply via mobile phone by dialing *555.