There has been explosive growth in the consumer-to-consumer payment industry, even though it is still a relatively new technology. While a few consumer-focused Internet companies have garnered the majority of these early adopters, banks are ideally positioned to launch C2C programs that leverage their existing customer base. Solspark's C2C solution allows banks to quickly offer a low-cost, robust C2C program, fully customized and integrated into a bank's existing Internet infrastructure.

• C2C payments are generally done through e-mail, the Internet's most popular and most utilized feature.
• Leading consumer C2C product PayPal has over 4,000,000 customers to date (PayPal, October 2000)
• According to the Gartner Group, [consumer-to-consumer] electronic payments are slated to grow from 1% of e-commerce transactions now to over 30% over the next several years. (As reported by CMPnet, September 22, 2000)
• PayPal is currently used as a payment option in 25% of the auctions on eBay. (CNNFN May 17, 2000)
• According to Forrester Research, more than 16 million people will engage in online auctioning by 2003, bringing $19 billion into the Internet economy
• "The [P2P] winner will be a system that people can use anywhere in the world we live in,' says Forrester Research analyst Ekaterina Walsh, 'To succeed it must transcend online and offline channels. " ("New Payment Systems Hope to Cash In," Forbes.com, June 6, 2000)