Digital banking has allowed for increased efficiency when transacting with friends, family, and even untrustworthy parties. 

Instead of solely transacting online with legitimate businesses or having to wire funds from one account to another, services like Venmo, Cashapp, Zelle, and others have made peer to peer (P2P) payments instant and mostly free. These services are owned by the leaders in the banking industry– PayPal, Block Inc., JP Morgan Chase, Capital One. 

These services are an integral part of the transition in the global economy to a largely cashless society. They have certainly improved the flexibility for consumers making payments. Specifically, P2P banking services are designed for trusted transactions between those receiving and sending the funds. 

Contract Keepers Solutions differs from these services and is the only provider in the world of what we believe is a vital consumer service– facilitating transactions between untrustworthy parties, without worrying about funds being misused or stolen. 

Our differences lie in the management of funds, which is outlined in the legal contract you create with our step by step process. The payment plan in your contract will describe exactly what needs to be done in order to disburse funds for any job, project, or purchase. 

It is easier than ever to split rent, dinners, pay a relative for their birthday, and many more everyday transactions through P2P services. However, these services have also led to an increase in fraudulent activity in private sales between a buyer and seller. Schemes to trick consumers into participating in fake charitable donations, ticket sales, gift giving, etc. have thrived on P2P banking services. A survey on lendingtree.com shows, “Nearly a quarter (23%) of P2P users have sent money to the wrong person, and 15% have been victims of scams.” 

A customizable contract that can quickly be generated and understood by both parties before payments are sent would prevent many of these types of scams from taking place when buying goods from an unverified counterparty.

Try Contract Keepers before you make a deal with an unknown party.