Citigroup Drops its c2it Person-To-Person Payments
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.