MIAMI - Citibank has agreed to offer online payment and settlement services to customers of Senegocia.com, a business-to-business marketplace that serves about 10,000 companies in Argentina, Chile, and Peru.
Customers of the Citigroup Inc. unit will be able to use Senegocia's bidding and trading services.
The agreement is part of Citibank's plan to expand further into the Latin American online market.
Senegocia has operated for six months in Chile, one month in Peru, and two weeks in Argentina. In Chile alone it serves 4,900 suppliers and 1,500 purchasers.
The marketplace generates a quote every seven seconds and attracts a new customer every eight minutes. Over the past four months $20 million worth of products has been traded on Senegocia.