Facilitating peer-to-peer transactions using virtual debit accounts of virtual wallets

A computerized method for facilitating a transaction to a recipient computing device comprising:

• loading funds, by a sender transaction application on a sender computing device, from a selected account to a sender virtual debit account, wherein the selected account comprises at least one of a credit card account or bank account associated with a user;
• receiving, by the sender transaction application, a transaction initiation request, the transaction initiation request including a transaction amount;
• detecting, by the sender transaction application, a recipient transaction application on the recipient computing device within a proximity of the sender computing device;
• accessing, by the sender transaction application, the sender virtual debit account associated with a virtual wallet of the sender transaction application;
• loading additional funds from the selected account to the sender virtual debit account responsive to a determination that a current balance of the sender virtual debit account is insufficient to cover the transaction amount of the transaction initiation request;
• initiating, by the sender transaction application, a transfer of the transaction amount from the accessed sender virtual debit account to a corresponding recipient virtual debit account associated with the detected recipient transaction application via short-range wireless communication;
• and
• upon a confirmation of the transfer being received from the recipient transaction application, providing, by the sender transaction application, a record of the transfer to an issuer of the accessed sender virtual debit account.

One or more computer storage media having computer-executable instructions for facilitating a transaction to a recipient computing device that, upon execution by a processor, cause the processor to at least:

• receive, by a sender transaction application on a sender computing device, a transaction initiation request, the transaction initiation request including a transaction amount;
• detect a recipient transaction application on the recipient computing device within a proximity of the sender computing device;
• access a virtual debit account associated with a virtual wallet of the sender transaction application, wherein the accessed virtual debit account is a sender virtual debit account;
• upon the transaction amount exceeding a balance amount of the sender virtual debit account of the sender transaction application by a difference amount, cause a load amount greater than or equal to the difference amount to be automatically transferred to the sender virtual debit account of the sender transaction application from a default account associated with the virtual wallet of the sender transaction application, wherein the default account comprises at least one of a credit card account or bank account associated with a user;
• initiate a transfer of the transaction amount from the accessed virtual debit account to a corresponding virtual debit account associated with the detected recipient transaction application via short-range wireless communication;
• and
• upon a confirmation of the transfer being received from the recipient transaction application, provide a record of the transfer to an issuer of the accessed virtual debit account.