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 from one person's account to the other.

• A. True
• B. False
• C. Sometimes true
• D. Not required

Answer: (B)

P2P payments are authorized digitally, not by signing a paper order at a bank. You log into the P2P app, confirm the recipient, and authorize the transfer using your password, biometrics, or another online verification. The platform then moves funds electronically—usually through the banking network (like ACH) or card networks—without any need to meet in person or sign at a financial institution. You can initiate the transfer from anywhere with internet access, and there may be online identity verification and security steps, but a physical signature at a bank isn’t required.