Citigroup is developing a mobile wallet that uses Near Field Communication technology for contactless payments.

Citi plans to launch the wallet in Asia at an unspecified date. The bank provided few other details.

"One of the projects Citi Enterprise Payments is working on is a mobile wallet that uses NFC and will be launched in Asia with a local mobile operator. It's a ways away from launch," said Janis Tarter, a Citigroup spokesperson, in an email to PaymentsSource. She would not say when or whether Citi plans to launch the product in other markets.

Visa representatives referenced the planned NFC wallet in Oct. 8 messages on Twitter, but the card network would not comment further and referred questions to Citi. 

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