New payment apps are released almost every day, and it can be difficult to know which ones you should download. There are so many different options that it can be overwhelming. Which app is best for buying tickets? Which one is the most convenient for splitting bills with friends? What about sending money overseas? Whether you’re looking to make fast payments or just quickly send a friend some cash, there is an app dedicated to each of those scenarios. Read on to learn more about the top 7 payment transfer apps available today, as well as detailed information on their features, pros, and cons.
1. Venmo
Venmo is a social-first, mobile-first platform that makes it easy to send and receive money. The app lets users share experiences with their friends and be paid back for items purchased together. Venmo is designed for the way people naturally interact and make decisions today, so you don’t have to open a new account, log in, or download anything to use it. With Venmo’s quick-to-use interface and its ability to integrate with other apps, it’s a great choice for any situation.
Key Features
- Built-in selfie camera for easy GIF creation
- The advanced fraud detection system
- Strong social presence and easy payments between friends Pros
- Venmo is very user-friendly and easy to navigate.
- The app’s social aspect makes it fun to use, and you can easily keep track of your spending with the app’s insights.
- The Venmo app can be linked to your bank account, debit card, or credit card, making it a great option for quick payments.
Cons
- There is a 3% fee for each payment made.
- A negative aspect of the social aspect of the app is that it’s easy to accidentally pay back the wrong person.
- You can only use Venmo to send money to people who have an account.
2. Google Pay
Google Pay is an easy way to send money, get an advance on your salary, or shop online. You can also use Google Pay to send money to family, friends, and other people who have email addresses. Once you’ve added a debit card to Google Pay, you can send money instantly. Google Pay has strong security because it uses a digital fingerprint to confirm your identity and protect your account.
Key Features
- Strong security systems
- Ability to send money via email
- A quick way to send money to friends
Pros
- The app is easy to use, and you can send money to anyone with a valid email address.
- You can also use the app to get an advance on your next paycheck if you get paid through direct deposit.
- Google Pay is available on both Android and iOS, so most people can use it.
Cons
- Some people may feel uncomfortable sending money via email, as there is no way to track the payment as it travels.
- You can only send money to people who have an account, so it’s not a good option for quick cash transfers between people who don’t know each other.
3. Cash App
The Cash App lets you instantly send money to your friends and family, and you can also use it to send money to people who don’t have the app. You can also use the app to pay your bills and withdraw money at ATMs. The Cash App is a great choice for many situations, including paying back friends for items, paying rent, and paying bills. The app also lets you invest in stocks and exchange-traded funds (ETFs) for free.
Key Features
- Ability to invest in stocks and ETFs
- Free bill payments
- Strong social presence
Pros
- The app is easy to use and lets you complete many tasks, including paying bills and paying back friends.
- The app is available on both Android and iOS, so most people can use it.
- You can also withdraw money at ATMs using the app, making it easy to get cash when you need it.
Cons
- You can only send money to people who have the app, so it’s not a good option for quick cash transfers between people who don’t know each other.
- The app can be a bit complicated and confusing to use, so it’s best for people who have some experience with financial apps.
4. Square Cash
Square Cash is a great payment app that lets you send money to friends and family quickly, as well as get money sent to you. The Square Cash app is easy to use, and it’s a good option for people looking to pay back friends for items or who want quick access to cash. The app also offers features like bill splitting, which makes it a convenient tool for many situations.
Key Features
- Strong social presence
- Ability to split bills
- Quick payment methods
Pros
- The app is easy to use and lets you quickly and easily send money to friends and family.
- You can also use Square Cash to get money sent to you and use it to split bills with friends.
- The app also allows you to split and pay bills from select service providers, making it easy to pay rent and other bills.
Cons
- You can only send money to people who have the app, so it’s not a good option for quick cash transfers between people who don’t know each other.
- The app can be a bit complicated and confusing to use, so it’s best for people who have some experience with financial apps.
5. Cell
The cell is a mobile payment app that lets you pay your friends back, pay bills, and buy goods and services using your smartphone. The app also lets you earn mobile rewards, such as gift cards or service vouchers. The Cell app is a great choice for many situations, including paying back rent and bills, as well as paying friends.
Key Features
- Ability to earn mobile rewards
- Strong social presence
- Ability to pay rent
Pros
- The app is easy to use, and it lets you earn mobile rewards.
- You can also use the app to pay bills, pay back friends, and pay rent.
- The app is available on both Android and iOS, so most people can use it.
Cons
- You can only send money to people who have the app, so it’s not a good option for quick cash transfers between people who don’t know each other.
- The app can be a bit complicated and confusing to use, so it’s best for people who have some experience with financial apps.
6. PayPal
PayPal is a digital payment system that allows you to send money and receive money from friends and family, pay or get paid for goods or services, or transfer money to or from your bank account. PayPal is a great choice for many situations, including paying friends back for items, paying rent, and paying bills. The app also offers great security, and it’s free to send money between accounts in the U.S.
Key Features
- Strong security systems
- Ability to send money to friends and family
- Ability to pay bills and rent
Pros
- The app is easy to use, and it offers great security.
- You can use the app to pay bills and rent, as well as send money to friends and family.
- The app is available on both Android and iOS, so most people can use it.
Cons
- You can only send money to people who have an account, so it’s not a good option for quick cash transfers between people who don’t know each other.
- The app can be a bit complicated and confusing to use, so it’s best for people who have some experience with financial apps.
7. Safran
Safran is a digital money transfer app that lets you send money to friends, family, and other people who have an account. The app also lets you earn rewards, such as gift cards and cash back. Safran is a great choice for many situations, including paying back friends for items, paying rent, and paying bills. The app also offers strong security, making it a great option for many situations.
Key Features
- Ability to earn rewards
- Strong security
- Ability to pay bills and rent
Pros
- The app is easy to use, and it lets you earn rewards.
- You can also use the app to pay bills and rent, as well as send money to friends and family.
- The app is available on both Android and iOS, so most people can use it.
Cons
- You can only send money to people who have an account, so it’s not a good option for quick cash transfers between people who don’t know each other.
- The app can be a bit complicated and confusing to use, so it’s best for people who have some experience with financial apps.