[geza]

Ah I meant P2P in the "from user to user with no transaction fees charged, doesn't go through Visa/Mastercard/Unionpay" sense (similar to Venmo, except that in China businesses accept it everywhere), not in the "fully decentralized and doesn't need a server" sense. For Zhifubao the servers are run by Ant Financial (it's a spin-off company of Alibaba), for WeChat the servers are run by Tencent. You can deposit/withdraw money to your bank account.

I'm assuming you're probably more interested in the new digital RMB wallet technology which supposedly works even if your phone doesn't have internet access, but I'm not familiar with how that is implemented (I'm guessing it uses blockchain and broadcasts the transactions later when you connect to the internet). There's some info about it at https://en.wikipedia.org/wiki/Renminbi#Digital_Renminbi

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Zhifubao is better known as Alipay outside of China.