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What is a P2P payment app? How peer-to-peer payments work

By SendPay Business · · 2 min read

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Money on its way
  1. Pick who to pay and type the amount
  2. Tap send and it is on its way
  3. It lands in their account

A peer-to-peer (P2P) payment app lets people send money straight to each other from their phone, to split a bill, pay back a friend or send money to family. The app sits on top of bank accounts, cards or its own balances and moves the money through payment networks.

How a P2P payment works

  • The sender picks a contact, phone number or account and enters an amount.
  • The app checks the sender has the money and runs its security checks.
  • Money moves between balances in the app or out through a bank payment network.
  • Both people get a notification and a record of the payment.
Man in a light blue suit with glasses

Fees and speed

Sending money inside one app is often free and instant, because it's just a change of balances. Sending to another bank or to another country can take longer and carry fees or an exchange rate markup, so check before you send.

Try it

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Type a name, tap a colour and pick what it does. The phone changes as you go.

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What it does

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Design and preview your whole platform free, then launch when you are ready.

Staying safe

Payments to other people are usually hard to reverse, so only send money to people you know. Watch out for scams that pressure you to pay quickly or to a new account.

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Where SendPay fits

SendPay lets you launch your own money app under your brand, with GBP, EUR and USD accounts, transfers, branded Visa cards, payment links, invoices and subscriptions, powered by licensed partners. SendPay isn't a bank and doesn't offer lending.

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How it works

Your own money app
  1. Name it and pick your colours
  2. Choose what it does
  3. Launch when you are ready

Why sign up

Create your free SendPay account

It's all about creating your own financial platform with ease. Start with a free account today.

  • A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
  • Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
  • A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
  • Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
Create a free business account Create a free websiteStart building your platform

SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.

Questions people ask

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Paying by scanning a code with your phone.

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What is a split payment?

One payment shared between several people or accounts.

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Spotted a mistake or something out of date? and we'll fix it. How our guides are made

This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.