Citi and Oracle link for B2B payments

Citigroup places yet another finger into a B2B pie. But is this one sweeter?
Oracle Corp, e-business software provider, and Citigroup have signed a strategic alliance agreement that will enable business to business B2B merchants on OracleExchange.com to make online payments though CitiConnect, and in return, Citigroup will direct its internal spending though the exchange.

This non-exclusive agreement with Oracle sees the financial services group provide payment and settlement capabilities to Oracle's B2B exchange, OracleExchange.com implement the Oracle internet procurement solution on a global basis, and market the B2B exchange to its corporate client base.

Citigroup also plans procure its internal needs through OracleExchange.com. According to Michael Robertson, vice president, global cash and trade, Asia Pacific region head, the group intends to use the...

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