Business Services Industry
First Union Joins Two Other Banks in Online Billing Venture.
Knight Ridder/Tribune Business News, June, 1999 by Veverka, Amber
Knight Ridder/Tribune Business News
Jun. 24 -- First Union, Chase Manhattan and Wells Fargo are creating a company that will be a kind of toll road for online bills -- connecting billers with customers in return for a fee.
The electronic billing company, to be called The Exchange until another name is found, will deliver its first online bills this fall.
The Exchange's founders are grabbing for the brass ring of electronic bill delivery: Offering billers one place to reach their customers -- and offering customers one place to get all their bills.
The banks together have nearly 60 million individual and small business customers and relationships with 59,000 corporate and institutional customers.
"To the extent they can build...
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