To conduct an electronic payment using a person-to-person (P2P) system, the two individuals must meet in person at a financial institution to sign an order requesting the transfer of money.

• A. True
• B. False
• C. Not sure
• D. Not applicable

Answer: (B)

In P2P electronic payments, authorization is digital, not a physical signature obtained in person. You don’t need to meet at a bank to sign a transfer order. Typically, you link a bank account or card to the P2P app, verify your identity during setup, and then initiate transfers by confirming the amount to the recipient within the app. The transfer is processed electronically over payment networks (like ACH or real-time rails) and is signed off via your online authentication—passwords, biometrics, or one-time codes—not a hand-delivered in-person signature. Some services may require initial identity verification, but ongoing transfers don’t require in-person signing at a financial institution.