Citi is leveraging the inControl purchase control capabilities to deliver limited use account numbers with enhanced controls and increased transaction security.
In India, we launched one of the world''s largest near field communications pilots with MasterCard PayPass embedded in the mobile hand set. The mobile payments pilot was launched in Bangalore in collaboration with Citibank, Nokia and Vodafone.
Overall, we had a solid quarter of business momentum and results and look forward to continue working with our customer financial institutions and merchant partners around the world on many other exciting opportunities that will make everyday commerce easier and more efficient for everyone involved.
I will now turn the call back over to Barbara, so we can begin taking your questions.
Barbara Gasper
Thank you Bob. We are now ready to begin the question-and-answer period. In order to get to as many people as possible in our allotted timeframe, we ask that you limit yourself to a single question with one follow-up and then queue back in for additional questions. Latasha, can we start the Q&A please?
Question-and-Answer Session
Operator
Ladies and gentlemen, if you would like to ask a question please press star one on your touchtone telephone. If your question has been asked or you wish to withdraw your question please press star two. Again, please press star one to ask a question.
And your first question comes from the line of Julio Quinteros with Goldman Sachs. Please proceed.
Julio Quinteros - Goldman Sachs
Great. I guess, just let me start off real quickly with the severance charges, some new severance charges into the fourth quarter any thoughts, Martina, around severance into 2010?
Martina Hund-Mejean
Julio, we, obviously as you know, we''ve been now taking severance charges every quarter and we''re really trying to make sure that we get all of the actions that we need to take into this year and that''s why we are finishing off in the fourth quarter. With this kind of environment, you never know what could happen in the future, but we are really trying to take the opportunity at this point in time to do the right decisions from an efficiency point of view, as well as from a relocation of investments point of view. So, it should be substantially done.
Julio Quinteros - Goldman Sachs
Okay, great. Thank you.
Operator
Your next question comes from the line of Don Fandetti with Citigroup. Please proceed.
Donald Fandetti - Citigroup
Hi. Good morning. Just a quick question and I was wondering if you could comment on your expectation for sort of price increases, I know Visa is expecting to be a little bit higher than normal in ''10, just want to get your thoughts there?
|
