P2P payments

P2P payments, or person-to-person payments, allow individuals to send and receive money directly between each other using digital platforms or apps, without needing a traditional bank intermediary. This can be done through mobile apps like PayPal, Venmo, or Cash App, which connect to your bank account or credit card. P2P payments are typically used for splitting bills, paying friends, or making small transactions. They are quick, convenient, and often come with minimal fees, making it easier for people to manage everyday financial exchanges.