A peer-to-peer (P2P) transaction is an electronic money transfer made from one person to another through an intermediary, typically referred to as a P2P payment application. P2P payments allow users to send money directly to another persons bank account, checking account, credit or debit card, or payment app, to another persons bank account or app. P2P payments can be sent and received via mobile device or any home computer with access to the Internet, offering a convenient alternative to traditional payment methods. When a transaction occurs, the account balance in the P2P payment application records the transaction and either sends or pulls money directly to the users bank account or stores it in the users account within the application. P2P payments can take anywhere from a few seconds to several days to go through to a users bank account, depending on the service used. P2P payment apps are used predominantly by the younger generations, and many P2P payment solutions also offer alternatives to a simple money transfer, such as requesting money or splitting costs between a group of people.