Citi has selected Mastercard as its network partner for its Citi Plex Account on Google Pay, a new digital checking and savings account which the bank said focuses on financial wellbeing and mobile functionality.

Customers with a Citi Plex Account will receive an auto provisioned instant digital debit card, with an option to request a contactless-enabled, physical debit Mastercard with access to Citi’s nationwide network of over 60,000 cash machines.

Citi said by delivering both a digital and physical debit card offering, customers will have the option to pay when, where, and how they want via debit card, smartphone or online.

The news comes after Mastercard partnered with new FinTech Hi55 Ventures on a market-first salary access card, which will enable people to access their pay as soon as they have earned it.

“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.”

“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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