Citigroup, AOL Team Up To Sell Products Online.Citigroup, the parent company of Travelers Property Casualty, is joining forces with America Online See AOL. Inc. to offer financial products and onlinepayment abilities to America Online customers. Under the multiyear agreement, New York-based Citigroup and America Online will build new payment and money-transfer features across AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , AOL.com, CompuServe, Netscape, Netcenter, AOLTV (America OnLine TV) An Internet TV service from AOL that provides access via a phone line or through the DirecTV satellite from Hughes Electronics. Versions of the AOLTV set-top boxes also include the TiVo technology for digitally recording TV programs. and Digital City, and AOL Instant Messenger See AIM. . Through the agreement, consumers will be given the ability to securely purchase goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , send money to friends and family, complete auction transactions and, eventually, transfer money between accounts. Citigroup will sell a full range of financial products and services, including Citibank banking, mortgages, loans and credit cards, Salomon Smith Barney brokerage and investment services and Travelers insurance products. Consumers would be able to access Citigroup's payment capabilities and products through the AOL brands beginning in the fall. As part of the agreement, Citigroup will promote AOL products and services on Web sites and through other customer outreach. |
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