Which statement about P2P payment systems is accurate?

Which statement about P2P payment systems is accurate?

• A. They are limited to domestic use.
• B. They do not support currency exchange.
• C. They enable online payments and international transfers with competitive exchange rates.
• D. They require a bank account.

Answer: (C)

P2P platforms connect individuals to send money online, often across borders, by skipping traditional intermediaries. They typically enable online payments and international transfers, and many offer currency conversion at rates that are competitive with or better than traditional banks. That combination—easy online payments plus cross‑border transfers with favorable exchange rates—is what makes this statement true. It’s worth noting that funding methods vary: some services require linking a bank account, while others can be funded by cards or wallet balances, so a bank account isn’t universally required. Currency exchange is a common feature of P2P systems, contributing to lower overall costs for international transfers.

P2P platforms connect individuals to send money online, often across borders, by skipping traditional intermediaries. They typically enable online payments and international transfers, and many offer currency conversion at rates that are competitive with or better than traditional banks. That combination—easy online payments plus cross‑border transfers with favorable exchange rates—is what makes this statement true. It’s worth noting that funding methods vary: some services require linking a bank account, while others can be funded by cards or wallet balances, so a bank account isn’t universally required. Currency exchange is a common feature of P2P systems, contributing to lower overall costs for international transfers.