sending, from a portable electronic device of the sending individual to a computer system, a unique non-private identifying code, barcode, or QR code of the receiving individual, wherein the code, barcode, or QR code is first non-private identifying information of the receiving individual, wherein the receiving individual does not provide banking information or private identifying information to the sending individual so as to maintain the privacy of the receiving individual, and wherein the sending individual and the receiving individual are at the same location;

receiving, by the portable electronic device of the sending individual from the computer system, second non-private identifying information of a person that was determined by the computer system to be the receiving individual based on the first non-private identifying information, so as to allow the sending individual to confirm the identity of the receiving individual, the second non-private identifying information being different than the first non-private identifying information;

sending, from the portable electronic device of the sending individual to the computer system, a confirmation that the identity of the receiving individual was correctly determined; and

initiating, by the portable electronic device of the sending individual, a transfer of money from an account of the sending individual to an account of the receiving individual,

wherein the initiating step comprises sending, from the portable electronic device of the sending individual to the computer system, an amount of money to be transferred from the sending individual to the receiving individual.