C2it

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C2it
IndustryFinancial services
Founded2000
FounderS Young Lee, Hope Chen, Will Chen, Jason May, Ian Flint, Jay Shen
Defunct2003
FateDefunct
ParentCitibank

C2it was a person-to-person money transfer service established by Citibank in 2000 as a competitor to PayPal and Billpoint.[1] It was formed as a partnership with AOL, and later with Compuserve and Microsoft.[2]

The service was discontinued in November 2003, due to low usage; a 2002 Gartner survey indicated that of various online money transfer methods, only 1 percent said they used C2it vs 33 percent who used PayPal.[3]

References[edit]

  1. ^ "Citigroup gets into online payment services game". cnet.com. 2 January 2002. Retrieved 1 February 2019.
  2. ^ Guttmann, Robert (22 October 2002). Cybercash: The Coming Era of Electronic Money. Springer. pp. 136–137. ISBN 1403914508.
  3. ^ "Citibank to shut down C2IT person-to-person payments business". finextra.com. 1 October 2003. Retrieved 1 February 2019.