P2P (peer-to-peer) payments

P2P (peer-to-peer) payments allow individuals to send money directly to each other using digital platforms or mobile apps, without needing a bank intermediary. This process typically involves linking a bank account or credit card to the app, enabling quick, secure transfers. P2P services like Venmo, PayPal, or Cash App make it easy to split bills, pay for shared expenses, or send gifts instantly. They are convenient and efficient, often with minimal fees, and are especially useful for small, personal transactions between friends, family, or colleagues.