Table of Contents
- Our Top Tested Picks
- Best for Buying Stocks and Bitcoin
- Best for Shopping Online
- Best for Paying Friends
- How to Send Money With Mobile Payment Apps
- Fees and Limits
- Security and International Payments
- FAQs
Our Top Tested Picks
Apple Pay
✅ Pros:
- Quick NFC payments
- Anonymous token system for security
- Manages gift cards, boarding passes, and more
❌ Cons:
- Limited to Apple devices
- No split payments
👉 Explore Apple Pay integrations
Google Wallet
✅ Pros:
- Contactless payments with virtual card numbers
- Stores loyalty cards and tickets
❌ Cons:
- Android-exclusive
- No peer-to-peer payments
Best for Buying Stocks and Bitcoin
Cash App
✅ Pros:
- Invest in stocks and Bitcoin
- Tax-filing tools
❌ Cons:
- Low payment limits
Best for Shopping Online
PayPal
✅ Pros:
- Works internationally
- Strong security
❌ Cons:
- No in-app NFC for stores
Best for Paying Friends
Venmo
✅ Pros:
- Social payment features
- Cash-back debit card
❌ Cons:
- Default privacy risks
How to Send Money With Mobile Payment Apps
Peer-to-peer payments are streamlined with apps like Apple Pay, Cash App, and Venmo. Cross-platform options are limited, so choose wisely.
Fees and Limits
- Most apps charge 3% for credit card transactions.
- Instant bank transfers may incur fees (e.g., 1.5% with Venmo).
- Weekly limits vary (e.g., $10,000 max with Apple Cash).
Security and International Payments
- Tokenization keeps card data safe.
- Zero-liability policies protect against fraud.
- International transfers are supported by PayPal and Xoom, but fees apply.
FAQs
Are mobile payment apps safe?
Yes, they use encrypted tokens and comply with PCI DSS standards.
Which app works globally?
PayPal and Xoom support cross-border payments.
Can I split bills with these apps?
Yes! Venmo and Cash App offer split-payment features.