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Citizens has 1M PayPass cardholders

March 30, 2006

CardTechnology: Citizens Financial Group has issued at least 1 million debit cards with MasterCard International's PayPass contactless technology, said Lisa Stanton, Citizens' senior vice president and director of card products and ATMs. Additionally, Providence, RI-based Citizens will begin issuing PayPass credit cards in April, she said.

Citizen embraced PayPass after the New England bank bought midwestern banking company Charter One in 2004 and needed to reissue cards to Charter One customers. Customers opening new Citizens checking accounts also are getting the PayPass debit cards. Stanton could offer no details on use of the PayPass contactless feature by Citizens cardholders. "It's early," she said. "There is a portion trying it out."

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