For many transactions, peer-to-peer, or person-to-person (P2P) payment apps have replaced cash and checks to send money to friends and family. These services allow quick transfer of funds to others, usually for free or with a small fee. Some of the most common P2P services are Zelle, Venmo, Cash App, PayPal, Google Pay, and Apple Pay. Today, most money transfers are screen based.

Future developments are expected to involve artificial intelligence personal assistants, voice commands, facial recognition, and virtual reality interfaces.

Action items:

1. (a) Locate online information with reviews of P2P payment apps.

(b) Talk to several people regarding their experiences with P2P apps. What benefits and concerns are associated with these services?

2. Describe a life situation for a single person or family. Visually present the features of a P2P app that would serve the financial planning needs of this person or family.