BitcoinCashNYC.com - Cards are going to go away, says Citigroup CEO Mike Corbat
" It's a testament to his pragmatism, but Michael Corbat, the chief executive of Citigroup, the world's biggest issuer of credit cards, is quite happy to concede that the popular financial product is doomed to extinction.
"We know, at some point, cards are going to go away,"Corbat says in an exclusive interview with The Australian Financial Review, "and it's just going to be digital wallet, digital payments." This is why Citi is putting a major emphasis on "fintech" – from cutting-edge banking apps for mobile phones through to blockchain, artificial intelligence and robotics, to forging partnership with big players such as Alipay, Amazon and WeChat – to make sure that that it continues to occupy a dominant position in the global payments system. " - Karen Maley - Read Full Article
Source: Afr.com
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