Which type of companies typically offer peer-to-peer (P2P) payments?

Peer-to-peer (P2P) payment systems are primarily associated with digital platforms that facilitate the direct transfer of money between individuals, often through mobile applications or online services. Social media platforms and online retailers have adopted P2P payment services to enhance user experience and convenience, allowing users to send and receive money with ease.

These companies leverage their existing user bases and technological infrastructure to offer integrated payment solutions, making it simple for consumers to transact. For instance, many social media platforms incorporate a P2P payment feature to allow users to settle debts or share costs, such as for group events.

In contrast, traditional banks usually focus on more conventional banking activities and may not provide the same level of P2P payment services as those offered by digital platforms. Insurance companies, credit unions, real estate companies, and automotive dealerships generally have different core functions that do not align with the direct money transfer capabilities characteristic of P2P payment systems.