INDIA PEER TO PEER MONEY TRANSFER INDIA P2P FOR PAYMENT APP PROVIDER FOR INDIVIDUAL AND BUSINESS BENEFIT PRO INCONVENIENT CONS
WHAT IS P2P PAYMENTS IN INDIA ?
In India, P2P payment or peer-to-peer for money transfer is defined by a system which is accessible via an online application or platform which allows the transfer of funds between two parties and send one another money from their mobile phone through a linked bank account
In India, peer-to-peer payments doesn’t are done directly between two parties the on who sends the money and the other one who receives the cash as they facilitate the money transfer directly between peers (individuals).
In India, P2P payments have several benefits and the pros is essentially in addition to be fast or easy to use, the user doesn’t need the small cash anymore and most transactions are free of charge which an advantage versus bank transfers.
In India, peer-to-peer payments has also inconvenients and their cons are summarized with the facts that refunds are not possible if the transfer of money is made by error as well as high dependency on the smartphone which can sometimes stop working for technical reasons (no wifi, battery empty etc…).