  We completely characterize extreme contractions between two-dimensional
strictly convex and smooth real Banach spaces, perhaps for the very first time.
In order to obtain the desired characterization, we introduce the notions of
(weakly) compatible point pair (CPP) and $ \mu- $compatible point pair ($ \mu-
$CPP) in the geometry of Banach spaces. As a concrete application of our
abstract results, we describe all rank one extreme contractions in $
\mathbb{L}(\ell_4^2, \ell_4^2) $ and $ \mathbb{L}(\ell_4^2, \mathbb{H}) $,
where $\mathbb{H}$ is any Hilbert space. We also prove that there does not
exist any rank one extreme contractions in $ \mathbb{L}(\mathbb{H},
\ell_{p}^2), $ whenever $ p $ is even and $\mathbb{H}$ is any Hilbert space. We
further study extreme contractions between infinite-dimensional Banach spaces
and obtain some analogous results. Finally, we characterize real Hilbert spaces
among real Banach spaces in terms of CPP, that substantiates our motivation
behind introducing these new geometric notions.
