P2P payments


Also found in: Dictionary, Financial.

P2P payments

(Peer-to-Peer payments) A non-credit card system for transferring cash from one party to another. Funds are debited from the user's bank account and credited to the recipient's account. Examples are Google Wallet, PayPal, Snapcash, Venmo and Bitcoin.
References in periodicals archive ?
More than 65,000 consumers are enrolling in Zelle daily, contributing to more than 100-million real-time P2P payments totaling USD 51.
The release of Malauzai's latest platform updates comes on the heels of enhancements made earlier in the year, which included the addition of TouchID, P2P payments and enhanced text banking.
Here's a look at five competitors Apple faces if it enters the P2P payments market.
Tech Savvy consumers in the Emirates are increasingly aware of services abroad like P2P payments, and ApplePAY, and they will be looking for similar utilities.
This encompasses mobile bill payment, mobile e-commerce, mobile contactless payments, and mobile P2P payments.
topped by 41 per cent share followed by P2P payments and Bill Payments and Mobile Top-ups with 35 per cent and 11 per cent shares respectively.
In fact, P2P payments by check are the only type of check payment that is still increasing.
The bills payment and top-ups remained the dominating activity in the quarter under review with 53 per cent share in total numbers, followed by fund transfers and deposits with share of 39 percent and 8 per cent respectively, it said and added that the P2P payments remained the most popular mechanism with 74pc share in the total funds transfer.
For P2P payments, enabling payment to be sent using the recipient's phone number as the identifier, improving the speed and ease of personal payments.
Global Banking News-December 6, 2017--Citizens Bank Launches Zelle P2P payments
P2P payments are growing, but overall usage and consumer adoption of bank-centric P2P is low.
The rollout of Zelle at banks across the country represents an advance in the speed, connectivity and security of P2P payments, and were excited to bring Zelle to our 28 million digital customers starting June 24, said Brett Pitts, head of digital for Wells Fargo virtual channels.