Person-to-person (P2P) payment systems require in-person transactions to transfer money.

Person-to-person (P2P) payment systems are designed to facilitate the transfer of money between individuals without the need for in-person transactions. These systems, such as PayPal, Venmo, or Cash App, enable users to send and receive funds electronically through mobile applications or online platforms.

P2P payment systems typically use the internet or mobile networks to allow users to transfer money seamlessly, making them convenient and efficient. Transactions can be initiated from anywhere, as long as the user has access to the internet or a mobile device. This flexibility is one of the key advantages of P2P payment systems, appealing to users who may not be able to meet face-to-face for financial exchanges.

Thus, the statement that P2P payment systems require in-person transactions to transfer money is not accurate. Instead, these systems have been specifically developed to facilitate remote transactions, reflecting the evolving nature of financial transactions in the digital age.