Citigroup, Wells Fargo Joining To Create E-Payment Network Investor's Business Daily (08/08/00) Vol. 190, No. 2 p.A15; Grant, Robert L.
Citigroup and four other technology and financial
companies said on Monday that they are creating a joint venture
to streamline online payments between businesses. This new
venture comes as part of a push to handle the flood of money
crossing the Internet. Wells Fargo & Co., i2 Technologies, and
Enron Broadband Services are also part of the deal. Citigroup,
as part of its Internet labors, already has a deal with key
Internet service providers. America Online will collaborate with
Citigroup to help its payments and money transfer infrastructure
run more smoothly.