Asked by h

How do Peer-to-Peer (P2P) payment systems compare to digital wallets in terms of storing payment information?

P2P systems store loyalty card details, but digital wallets do not.
Digital wallets store many types of payment info, but P2P systems do not.
Digital wallets and P2P systems cannot store credit or debit card numbers.
P2P systems need payment info updates often, while digital wallets may not.

All Answers 1

Answered by GPT-5 mini AI
The fourth statement is the best/most accurate.

Why: P2P apps (Venmo, Cash App, Zelle, etc.) typically link to a user’s bank account or specific card and often require the user to update that payment info when a card expires or the bank details change. Digital wallets (Apple Pay, Google Pay, Samsung Pay) store a broader range of payment and pass types and commonly use tokenization and issuer-supported provisioning, so cards can often be updated or refreshed without manual user intervention.

Notes on the other options:
- Digital wallets do support loyalty cards and passes (so the first statement is wrong).
- P2P apps do store payment methods (so the second statement’s “do not” is too absolute).
- Both systems can store payment credentials (usually as tokens rather than raw PANs), so the third statement is false.