Citigroup Drops its c2it Person-To-Person Payments

November 17, 2003, 1:00 a.m. EST 1 Min Read

Citigroup has dropped its c2it person-to-person online payment service. C2it will remain available to consumers until Feb. 22 so consumers can review their accounts. The three-year-old system never gained traction against PayPal, the top web-based personal payment system. PayPal, owned by eBay Inc., has proven a formidable competitor, already vanquishing the Beenz and Flooz programs. Remaining providers include PayDirect from HSBC Bank and Yahoo!, BidPay from the Western Union unit of First Data Corp., and CheckFree Corp.'s Auction Payments.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Politics and policy

How the Trump administration has neutralized the CFPB

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

By Kate Berry

6h ago
Monetary policy

More rate cuts eyed as Fed zeroes in on soft labor market

Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.

By Maria Volkova

September 17
Bank stocks

Bank stocks rise on Fed's first rate cut of 2025

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

By Allissa Kline

September 17
Community banking

New York bank doubles down on insurance with big investment

Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.

By John Reosti

September 17
Stablecoin

Minnesota credit union is launching its own stablecoin

St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.

By Melinda Huspen

September 17
Apple Pay

Affirm, Klarna, deepen ties with Apple

The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.

By Joey Pizzolato

September 17