GLOSSARY
Peer-to-Peer (P2P) Payments
Transfers of funds between individuals, often via wallets or bank rails without a merchant in the flow.
P2P payments move money directly between people, typically through wallets or bank transfers, without a merchant. Examples include cash-apps, instant bank transfers, and QR-based wallet sends.
Fees and risk differ from card acquiring: no interchange fees, but providers still manage fraud, KYC, and funding/withdrawal costs. Some wallets issue cards or tokens to let P2P balances spendable on card networks.
Related
Related terms.
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Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
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Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
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Card Fraud
Unauthorized card use or theft of credentials to initiate transactions.
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Card Network
Payment network (e.g., Visa/Mastercard) that sets rules and routes card transactions between issuers and acquirers.