P2P Payment

byPaytm Editorial TeamLast Updated: September 16, 2025

Definition

P2P payment stands for Peer-to-Peer payment, which means transferring money directly between individuals using digital platforms like UPI.

Examples

  • Sending money to a friend for dinner.
  • Repaying borrowed cash digitally.
  • Splitting bills with roommates.

Importance

  • Quick and direct transfer.
  • Eliminates the need for cash.
  • Works 24/7 across different banks.

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