What does P2P mean?

The “P2P” part means “peer-to-peer” or “person-to-person” (in the case of P2P delivery, it can also mean “point-to-point”). Why do people use P2P marketplaces?

What are the risks of P2P payments?

P2P payments can be convenient, but there are potential costs and risks, in areas such as the privacy of your personal information. FDIC Consumer News first introduced readers to P2P payments in 2011, and now we are offering our latest suggestions.

How do P2P payment services work?

How a P2P service works: Banks and other companies offer different P2P payment services. Most share certain features: You establish an online account and designate one or more payment sources (such as your checking account, credit card or prepaid card) that you’ll use to pay people.

What are the benefits of using a bank account for P2P?

another potential benefit is that funds held in your bank account are FDIC-insured, which may not be the case with a nonbank P2P account.