Peer-to-Peer Transfer

A peer-to-peer (P2P) transfer is a method of sending money directly between individuals without needing a bank or third-party intermediary. It works through digital platforms or apps that connect users, allowing them to transfer funds quickly and securely from one account to another. For example, using a mobile app to send money to a friend’s account instantly is a P2P transfer. This system simplifies transactions, reduces fees, and enables fast payments, making it convenient for everyday financial exchanges between trusted parties.