By editorial@silicon.com, 15 September 1998 17:06
NEWS Citibank has announced it is to invest in MSFDC, the joint venture between Microsoft and First Data formed in June last year. The company has been renamed TransPoint, with its Internet bill delivery and payment service becoming known as TransPoint E-bills. A TransPoint statement said Citibank will take "a significant minority interest" in the company, with the bank being represented on the TransPoint board. Citibank will allow the venture to use its "pay anyone" facility, which enables customers to pay any bill, whether or not it is delivered electronically. Citibank customers will gain access to TransPoint's service, and the bank will incorporate TransPoint technology in its e-Citi ecommerce products and services.
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