What is P2P payment?

Peer-to-peer payments, often known as person-to-person payments, represent a form of digital transaction conducted between two individuals. This mode of payment falls under the umbrella of mobile banking, facilitating seamless fund transfers without the need for intermediaries.

The essence of peer-to-peer payments lies in the direct transfer of funds from one individual's financial account to another. These accounts can encompass bank accounts, checking accounts, credit or debit cards, and even payment applications.

The convenience of peer-to-peer payments stems from their ability to bypass traditional banking channels, enabling users to send and receive money instantly, regardless of their geographical location.

With peer-to-peer payments, users can avoid the hassle of writing checks, visiting banks, or waiting for funds to clear. The transactions are processed quickly and securely, providing a seamless experience for both the sender and the receiver.

BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the evolving needs of the digital financial landscape. Its comprehensive offering includes spot trading, futures trading, and a secure digital wallet.