Google "c2it" it was a P2P competitor launched by Citibank circa 2000 to take on Paypal. Never went anywhere. So I generally agree that Chase's attempt (combine

Google "c2it" it was a P2P competitor launched by Citibank circa 2000 to take on Paypal. Never went anywhere. So I generally agree that Chase's attempt (combined with Wells and BoA - which I believe are other two banks in the consortium called ClearXexchange ) is unlikely to succeed unless they have some "out of the box approach"