Peer-to-Peer Payments refer to the direct transfer of money between individuals without the need for a traditional financial institution, like a bank. This system allows users to send and receive funds using mobile apps or online platforms, making transactions quick and convenient. Popular services include Venmo, PayPal, and Cash App. These payments are often used for splitting bills, paying for services, or sending money to friends and family. Security measures, such as encryption and authentication, help protect users' financial information. Overall, Peer-to-Peer Payments simplify everyday transactions and enhance financial flexibility.