Today online payments and peer to peer payment apps are very popular in the digital world. For transferring money to a friend, relative or any online acquaintance, few apps are hugely used in today’s modern world.
Some of those popular and current payment apps are as follows:
1. Square Cash
By signing up in the app, you will get a link as ‘$Cashtag’. By clicking on the link, your relatives will be able to transfer or send the money to you. $250 is the initial payment limit that is valid peer week. If the transactions are through debit card or bank account, there would be no fees. However, 3% charge is applicable for credit card.
Using this, you can instantly send or transfer money by its app or website. PayPal.me is available in almost 18 countries and is a good way to receive or send money to your friends or relatives. If the account is linked to PayPal, then ideally there is no limit. 3% charge is applicable for using credit card.
3. Facebook Payments
Using the Facebook’s Messenger app, you can use this. Open a facebook’s friend chat and as you click on the dollar sign icon, you can easily mention the amount of money that you wish to transfer. Payment limit and fees is none.
4. Different Banks
There are a number of banks that offer the service for online payment. Using their apps and website, you can transfer money.
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In this, the users and the friends (to whom money is to be transferred) have to sign up. PayPal owns Venmo. The fee is same as in Square Cash. For new users, the weekly payment limit is $300.
Apart from such big and popular apps, there are few more apps like Gmail and Popmoney through which one can easily transfer money online to his acquaintances.