Business Services Industry
Finance firms want e-marketplace play;Visa, Amex, wells fargo and Citigroup compete to offer credit card payment services for e-hubs .(Brief Article)
B to B, March, 2000 by CLARK, PHILIP B.
Visa International, Citigroup, Wells Fargo & Co. and American Express Co. are scrambling to become providers of the payment systems that run beneath e-marketplaces.
It's a complex competition: Visa International and American Express have signed deals with Ariba Inc.; Citigroup and Visa International are working with Commerce One. Many corporate clients have relationships with Citigroup and Wells Fargo. Additionally, Visa International is jointly owned by 21,000 financial institutions that use its credit card payment network, including Citigroup and Wells Fargo.
Visa on top
Visa International will likely have the greatest impact on online payment processing. This is because of its sheer network size and global breadth.
The Foster...
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