A system and method for processing person-to-person transactions using EFT (Electronic Funds Transfer) networks in real time is provided. The system may include an adaptive payment server including one or more processors configured to receive first identification information and second identification information from a sender communication device. The adaptive payment server may receive third identification information from a receiver communication device. The adaptive payment server may determine a sender account based on the first identification information. The adaptive payment server may determine a receiver account based on the third identification information. The adaptive payment server may process a person-to-person transaction based on the sender account and the receiver account via an EFT network.