Looking at the repayment time of peer to peer users how would you assume it compares to that every payment via cash or check? wh

Question

Artemon [7]

1 year ago

11

Looking at the repayment time of peer to peer users how would you assume it compares to that every payment via cash or check? wh

y?

Mathematics

1 answer:

Rina8888 [55] · Answer 1 · 2023-09-12T02:00:59+03:00

Peer-to-peer is good for fast payment but is lacking in the transfer of funds security as there is mostly made b/w people with one unknown history or background, most people meeting for the first time, Compared to cash or check which is handled physically. This is further explained below.

<h3>Looking at the repayment time of peer-to-peer users how would you assume it compares to that every payment via cash or check?</h3>

Generally, P2P, which stands for peer-to-peer, is a method of payment that enables users to make purchases without needing to have access to their financial institution's account information. The transfer is completed quickly and, in most cases, at no cost. There is a generational divide in terms of adoption, but the vast majority of Americans today make use of mobile payment applications.

In conclusion, Peer-to-peer transactions are typically conducted between people who do not know each other's histories or backgrounds, and the majority of transactions involve people who are meeting for the first time. This makes peer-to-peer transactions less secure than cash or checks, which are physically handled. Peer-to-peer transactions are useful for making payments quickly.