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person-to-person payment
[ pur-suhn-tuh-pur-suhn pey-muhnt ]
noun
- 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
Example Sentences
What do I need to know about person-to-person payment platforms like Zelle and Venmo?
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.
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.
Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.
Ultimately, the best person-to-person payment app depends on what you use it for — and how much you care about digital privacy.
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