New York, United States, Aug. 25, 2022 (GLOBE NEWSWIRE) — Peer-to-Peer (P2P) Payment is a method wherein a user can make payments from his bank account to another person’s bank account using the internet or a mobile device. Payments are split into two types depending on whether they are sent to accounts inside or outside the bank. Modern consumers prioritize accessibility and convenience above all else, especially regarding payments. P2P systems feature meager transaction fees of roughly 2% to 3%, and some may even be free because there is no need for an intermediary. P2P networks may be, in some respects, safer due to their ability to spot fraud and encryption. Certain apps and online services have started integrating biometrics and push alerts for every transaction.
The market for P2P payments is growing globally as more consumers accept mobile, online, and e-commerce…
