What is the purpose of a P2P app?

The purpose of a P2P app, or peer-to-peer payment application, is primarily to facilitate the electronic transfer of money directly between users. These applications allow individuals to send and receive funds easily without the need for traditional banking methods, which often involve longer processes and fees. P2P apps enable transactions to occur almost instantly, making it convenient for users to settle bills, reimburse friends, or pay for services.

In contrast, other options focus on actions not specific to the primary function of P2P apps. For example, debiting money from bank accounts is a broader banking function, while loaning money from banks pertains to borrowing practices rather than direct payment between individuals. Saving funds in investment accounts involves investment strategies, which do not align with the direct, immediate transfer features inherent to P2P applications. Thus, the essential role of P2P apps lies in connecting users for seamless electronic money transfers.