Citibank Debuts Online Person-to-Person Payment System
Citibank this week launched its own online person-to-person payment system in an attempt to
rival popular services such as PayPal.
The new system, called C2it, allows people to transfer funds to others by using the Internet.
Such services have proved popular among online auction users, small businesses that don't accept
credit cards and people who want to pay bills to vendors that can't receive other electronic payments.

C2it users can move funds from any bank account, brokerage account or credit card in their name
at any financial institution and have those funds credited to any credit card, deposited into any bank
account or issued in the form of a check, said Sami Siddiqui, head of the new service.