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4994 Lower Roswell Road NE, Suite 4, Marietta, GA 30068
Phone: 770-971-9141
Email: ifp@incompassfp.com
January/February 2024
Cashless Payments on the Rise
Cash is out. Peer-to-peer (P2P) payments are in. P2P services allow an individual to send money to another person’s bank account through a third-party website or mobile app after linking a bank account or credit/debit card. Since contactless transactions became popular during the pandemic, consumers have begun using P2P systems instead of cash or cards, and many small businesses, nonprofit organizations, and vendors offer that option.
Popular Apps
There are several peer-to-peer payment services, and each one may work a little differently. Zelle is provided by a bank and accessed directly from the bank’s website. Other P2P services, such as Venmo, PayPal, and CashApp, can be accessed through a mobile app when both users have linked their bank account information. Google Pay and Apple Pay Cash are other popular options.Cost
P2P services are generally free for transfers between bank accounts. However, fees may be charged for linking a debit or credit card.CONTACT US
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Securities offered through Triad Advisors, LLC., Member FINRA/SIPC. Advisory Services offered through Incompass Financial Partners, LLC. Incompass Financial Partners, LLC. is not affiliated with Triad Advisors, LLC.
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