Peer-to-peer payments
Custom, off-network transactions that enhance flexibility for in-app services. Peer-to-peer (P2P) transactions enable partners to initiate internal transfers or charges that are not processed through traditional card scheme networks (e.g., Mastercard, Visa). Instead, these transactions are processed entirely within the Mynt platform, offering greater control, speed, and customization for partners who operate their own apps or ecosystems.
What are P2P transactions?
P2P transactions are non-scheme-based, meaning no transaction is sent to or authorised by external payment networks. These are internal, ledger-based transfers that occur directly between customer accounts or are posted directly to a cardholder’s account without touching the card schemes. Because they do not pass through the traditional card payment rails, P2P transactions can be settled instantly and without acquiring or issuing fees.
Mobility partner scenario
Imagine a user parks in a smart garage or charges their electric vehicle via a mobility partner’s app. Instead of charging the card via a terminal (which would invoke a network fee and delay), the partner:
- Uses the Mynt API to create a P2P transaction.
- Specifies the card/account to charge, along with an amount and description.
- Posts the fee directly in the user’s transaction log – with no need for acquiring or scheme processing.
This improves control and cost-efficiency, particularly for:
- Subscription or access fees
- Per-minute or per-kWh usage charges
- Parking time extensions or penalties
Endpoint: Create P2P Transaction
Field: Unit of measure
Specifies the external unit of measure using the ISO 20022 external code list. Reference: ISO 20022 External Code Sets
Example Values:
KILO— KilogramPIEC— PieceMETR— MetreLITR— LitreHOUR— Hour (example for parking or time-based services)KMET— KilometreTONS— TonGRAM— GramSQMI— Square mile
Full list of valid codes is published by ISO 20022 and can be downloaded from the official site.