Which service allows consumers to send payments electronically to each other?

The correct choice is the service that specifically refers to transactions between individuals, facilitating the secure transfer of funds directly from one person to another using electronic means. This service is commonly known as Consumer to Consumer (C2C) payments.

C2C payments typically leverage various online platforms or applications that enable users to send and receive money easily, often using smartphones or computers. Such services include apps like Venmo, PayPal, and Cash App, which have gained significant popularity for their convenience and speed.

In contrast, bank loans involve borrowing money from a financial institution, Consumer Credit Counseling focuses on providing assistance with managing debt and improving credit, while insurance payments relate to compensatory payments made due to an insurance claim or policy. None of these other options encapsulate the direct electronic payment exchange between individuals that C2C payments do.