Virtual payments happen to be a big hit, especially in 2020 when everything seems to be digital, which is why these apps have provided safe and fast ways to send money online.
PayPal has been in the business since 1998, giving them 22 years of experience in the online banking field. You can download the app to access your account and send or receive money. Make sure to check the fees involved in every transaction.
Owned by PayPal, Venmo works a little differently from its senior. It’s often used on-the-go, making the user send or receive money instantly especially in restaurants, cafes, malls, anywhere that accepts Venmo for cashless payment.
Square Cash App (formerly: Square Cash)
In 2018, the company had 7 million active users, making it worthy to own a spot on this list. You may request or transfer money through its app and withdraw money in local bank accounts or ATMs. Be sure to check the guidelines when you use the service.
The app that provides mostly free services for sending and receiving money, Zelle is often best suited for credit union members. Its system is simple to understand but does require users to have a US bank account.
Also owned by PayPal – because they can – it allows people from 66 different countries to send payments easily. The service will require a PayPal account or a bank account to let the transaction happen. It is a special feature? Have the cash delivered to its recipient.
These apps will do the best to protect you, but as a user, you have to make sure you are protecting yourself from any form of hacking and getting your funds stolen. In the digital era, we have to double our security as well.