Peer-to-Peer Payments
Peer-to-peer (P2P) payments refer to a digital method of transferring funds directly between individuals without intermediaries like banks or payment processors. This technology enables instant, low-cost transactions using mobile apps or online platforms, often leveraging blockchain, mobile wallets, or dedicated payment services. It simplifies splitting bills, sending money to friends, or making small purchases by bypassing traditional financial infrastructure.
Developers should learn about P2P payments to build or integrate financial applications, such as mobile banking apps, e-commerce platforms, or blockchain-based systems, where direct user-to-user transactions are essential. It's crucial for roles in fintech, digital wallets, or decentralized finance (DeFi) to enable features like instant transfers, micro-payments, or cross-border remittances with reduced fees and enhanced security.