Peer to peer payment apps (P2P) are digital payments between individuals via mobile banking. The funds are transferred directly from one person’s bank account, checking account, credit or debit card, or payment app to another person’s bank account or app.
https://www.uschamber.com/co/run/finance/best-p2p-payment-platforms/
The U.S. Chamber of Commerce offers more information on how to create P2P business accounts and how to use them.
https://www.consumerreports.org/digital-payments/the-truth-about-those-peer-to-peer-payment-apps/
Consumer Reports offers insights on P2P payment apps and things to stay cautious about before using them.
https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-your-money-is-at-greater-risk-when-you-hold-it-in-a-payment-app-instead-of-moving-it-to-an-account-with-deposit-insurance/
The Consumer Financial Protection Bureau consumer advisory on protecting your money from the non-insured payment apps.
https://www.americanbar.org/groups/gpsolo/publications/gpsolo_ereport/2022/may-2022/tapas-peer-to-peer-payment-apps/
The American Bar Association gives consumers tips for using P2P payment apps and how to use them in a safe way.
https://www.bankrate.com/banking/checking/what-are-p2p-payments/#who-offers-p2p-payments/
This resource gives a deeper explanation about what P2P payment apps are and key takeaways while using them.