The invention provides a computer-implemented method for using the social networking content of a user to determine authentication levels required for a peer-to-peer transaction. A user inputs transaction counter-party and transaction details into a payment application. The information can be transmitted to a server located in a peer-to-peer payment system. The system may search the social network content of the user to determine the account information of the counter-party and to assess the security risk of the counter-party according to a preconfigured set of factors that define the strength of the connection to the user. These factors may include the counter-party's status in the user's social networks, frequency of contact, prior transactions, or other factors that further establish a relationship. The system may determine the level of transaction authentication required to process the transaction. The user may enter the authentication data to complete the transaction.