Introduction
P2M (Peer-to-Merchant) transactions are UPI payments made by customers to businesses for goods or services.
Definition
The definition of P2M transaction is a payment type where money is transferred from a customer’s bank account to a merchant’s account using UPI or QR codes.
How It Works
The customer scans a merchant’s QR code or enters their UPI ID, confirms the payment, and the money is transferred instantly to the merchant’s bank account.
Benefits
- Replaces cash at point of sale
- Real-time payments for merchants
- Works across all major UPI apps
