person-to-person payment

[ pur-suhn-tuh-pur-suhn pey-muhnt ]

noun

, Digital Technology.

1. a transfer of funds directly from one person to another over the internet or a mobile phone network, often by means of an app. : P2P

Word History and Origins

Origin of person-to-person payment¹

First recorded in 1995–2000

Example Sentences

What do I need to know about person-to-person payment platforms like Zelle and Venmo?

From New York Times

In a survey of nearly 1,400 people whose accounts were accessed without their consent last year, a quarter said Zelle or other person-to-person payment services were used to make unauthorized money transfers, according to a report by Shirley Inscoe, an adviser at Aite-Novarica Group, a financial services consultant.

From New York Times

Nearly 18 million Americans were defrauded through scams involving digital wallets and person-to-person payment apps in 2020, according to Javelin Strategy & Research, an industry consultant.

From New York Times

Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.

From Seattle Times

Meanwhile, a bunch of person-to-person payment systems — PayPal, Venmo, Square Cash, Zelle and so on — promise to move money more quickly between individuals.

From Seattle Times