What Are Peer-to-Peer Payments? How to make e-wallet with p2p payment method?

The modern world lives in the digital age, where almost all transactions can be made through the phone. Nowadays, cashless payments are gaining more and more popularity. To do this, literally all devices are used, ranging from a regular smartphone to smartwatches.

Electronic payment is convenient. You no longer need to take a cash wallet with you – any amount is on the e wallet app. With the digital solution you can:

  • pay for purchases anywhere in the world without queues;
  • send bank transfers in 1 minute;
  • top up a mobile phone;
  • pay for utilities and telephone services;
  • pay for simply everything.

But sometimes there is a problem. For example, you and your friend went to a cafe and were given a joint bill. How to proceed in such a case? For this purpose, there is a P2P payment. Our company, WalletFactory will develop e wallet App personally for you. In creating the application, we follow optimization and quality standards.

What is p2p?

This technology facilitates payments between users to a significant degree. Peer-to-peer payment systems make it easy to send and receive funds to different wallets. The essence of the P2P system (https://walletfactory.com/en-br/how-to-pay/p2p-payments) is to use a bank card without any problems, and not be afraid that you might lose it. The digital analogue of the card is linked to the digital solution and has all the same functions as a regular bank card. But along with this, standard plastic will be safe.

How does digital wallet work?

The e wallet App is very easy to use. No special knowledge is needed to make purchases or pay bills through the digital solution. All you need is your device and internet connection.

First you need to connect P2P to your bank card. Next, in the transfer field, you must specify the required amount. Funds come instantly. But there may be delays – it depends on the workload of the server.

The operation concept of P2P is not complicated. You have to pay for the purchase in the store. Instead of the usual method of paying with a bank card, you take out your NFC-enabled smartphone and apply it to the terminal. The result – the payment is made successfully, you do not need to take out the card. Money comes almost instantly.

How else you can use the NFC-enabled digital solution:

  • you need to transfer money (return the debt to a bank card);
  • open the contact list in the application;
  • choose the person you want to transfer money to;
  • indicate the required amount;
  • complete the payment.

Money comes very quickly. Our company WalletFactory offers its own developments for your business. Contact us now for a personal advice today.

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