We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more. Back in the 1990s, if you owed a friend $5 you would just pull a crisp bill out of your wallet and hand it over. These days, cash may still be king when it comes to small, in-person payments,but sending money virtually between friends and family is easier than ever. If you need to send a friend, relative, roommate, or anyone else money for anything ranging from splitting a restaurant check to your share of the rent, social payment apps have you covered. The best payment apps are easy to use, safe, and have low fees. The apps that did the best in our rankings have features that allow you to track spending, make a budget, and send money internationally. Best Payment Apps Best Payment Apps Final Verdict Compare Apps FAQ Methodology Why We Chose It PayPal offers a user-friendly interface with strong security, and there are no fees for sending money to family and friends. Pros & Cons Pros Transfer money to and from any U.S. bank account No fees when you send money to a family member Strong encryption technology keeps accounts secure Simple (and free) to set up an account Cons Business owners are charged a fee to receive payments PayPal has the ability to freeze your account Overview PayPal is the granddaddy of payment companies, with a history going back to 1998. It made its name as the preferred digital wallet and payment provider for eBay transactionsbut has since grown to be one of the most dominant names in online payments. PayPal offers the ability to transfer money to and from any U.S.-based bank account. There is no fee to transfer funds to family or friends from a PayPal balance or bank account balance, but PayPal does charge fees to send from a credit card or convert currencies. Why We Chose It Cash App is a straightforward peer-to-peer payment app that allows users to buy and sell bitcoin. Pros & Cons Pros Easy to link your bank account via a debit card Offers users a digital wallet Option to buy and sell bitcoin Cons Can only send $250 every 7 days and receive $1,000 every 30 days without verification Overview Cash App is the answer of mobile credit card processor Square’s parent company, Block Inc., to the growing popularity of peer-to-peer payments. Cash App does pretty much the same thing as Venmo, but without the social features. You can send money to friends or request from them, and funds are drawn from a linked bank account or debit card at no cost. In 2018, Cash App added the ability to buy and sell Bitcoin as well, which gives it a unique feature compared to other popular payment apps. Why We Chose It Whether you're dining out as a group or planning a trip with friends, Venmo takes the headache out of splitting contributions. Pros & Cons Pros Easy way to split the bill with friends and family Instant transfers option Cons 3% fee for sending money with a credit card Privacy default is public view Overview Venmo is actually owned by PayPal, however, Venmo is a very different app than PayPal. Venmo is an app designed primarily to send money to friends, with an embedded social aspect. And, while you can sign in and access your account on traditional computers, you can only send money from the app or mobile browsers. Venmo has 60 million users. That's a lot of restaurant checks split. Venmo can also be used to pay for transactions at many businesses as well. It is free to send money using your linked debit card or bank account. Why We Chose It Zelle is a convenient payment service that links up with participating banks, allowing users to transfer money quickly. Pros & Cons Pros Many large banks offer Zelle Same-day transfers No fees for sending or receiving money via Zelle Cons You can only send funds from one designated bank account Overview Zelle offers a unique way to pay friends or family right from your bank. If you have an account at a participating bank, you can send cash via same-day transfers. The growing list of participating banks includes titans such as Chase, Bank of America, Citi, Wells Fargo, and online banking leaders, Allyand Capital One. If your bank doesn't partner with Zelle, you can still use it by downloading their app and linking your debit card. If your bank does participate, you have the option of using Zelle's service through your bank's website or mobile app in addition to the Zelle app. It is free to send and receive. You can only connect one bank account to your Zelle profile at this time, so if you sign up, make sure it is with your primary account. Why We Chose It If you're an avid user of Google's product suite, you may also want to add Google Pay to your toolkit. This convenient, versatile app makes it easy to send and receive payments. Pros & Cons Pros No fees to send money to friends and family Integrates with Google products, like Gmail Easy to use from a laptop or smartphone Cons Transfers to your account can take 3-5 days Fees for debit card transfers (1.5% or $0.31, whichever is greater) Overview Google offers a tool to do almost everything one can do online, and sending money is no exception. Google Pay is unique in its integrations with other Google products, including Gmail. Using Google Pay, you can send and receive money to friends and family by using their name, email, phone or QR code. If you have a Google account, you are essentially already signed up for Google Pay. Like most Google products, it is well designed and easy to use. It works with the dedicated Google Pay app or through other integrated Google services. There are currently no fees to use Google Pay except when transferring money out to a debit card. Why We Chose It Meta offers a convenient payment service that allows Facebook, Instagram and Messenger users to send money to other users or select businesses. Pros & Cons Pros Transfers are private, unlike some other apps that have a public option Easy to use from your Meta chat experience Cons You need to have a Facebook, Instagram or Messenger profile to use it Overview Meta already knows everything about you, so why not hand over your debit card and integrate sending money with your chat experience? Because almost everyone is already on Facebook, Instagram or Messenger, you can send them money without waiting for them to sign up for an account elsewhere. They just need to add a payment method. Payment information is private. When you send money, the transactions are not shared on your feed. Once a payment is accepted, it shows up in the bank within five business days. It’s as simple as that. PayPal's accessibility and long-established reputation gave it an edge over other competitors in our research, especially because anyone with a bank account can use it to send and receive money. Cash App is another easily-accessible app, though it has some limits. If you're looking for something that functions more like a social app, PayPal-owned Venmo might be for you, and heavy users of Google or Facebook also can find payment apps for those platforms. A payment app is a tool to pay for goods and services and send money to vendors, friends, and family. People tend not to carry as much cash nowadays, so a payment app can be a quick way to reimburse a friend for a concert ticket, help a family member out with a bill, or even pay for something at a store without having your wallet with you. It’s like having a digital wallet with you on your phone. A payment app works like a digital wallet. You link your bank account information and credit cards to the app, and it securely stores it so you can use it to send and receive money directly on the app. You don’t need to have your wallet physically with you, and you can even use some apps internationally. It’s a quick and convenient way to send and receive money and pay for things online and in stores. Some payment apps are completely free, while others have free aspects like receiving money or sending money between friends and family. Some payment apps may charge fees to receive money quicker than the standard time, currency exchange and processing fees, and credit card fees. These fees vary based on the type, amount, and location of the transaction. You may be charged between 2.5% to 3% forcredit card processing feeswhen using some payment apps. If you’re a small business, you can add these fees into the cost of your goods and services or charge an additional fee for customers to pay with a credit card. One of our choices for best overall, PayPal, uses robust encryption technology, and you can dispute any payments you did not make or made by mistake. As with any financial app, it's essential to be cautious about how you use a payment app. All of the apps on our list offer two-factor authentication as an option, and it's a good idea to take advantage of such features. All of the apps in our list are free to an extent. You typically will pay no fees if sending money to a friend from your bank account, but fees sometimes will be charged for instant transactions or when sending money using a credit card. Each app is different, so be sure to familiarize yourself with the terms. To choose the best payment apps, we looked at several popular options and the features they offer. As part of our evaluation, we considered factors like reputation, functions, ease of use, what platforms they work on, how you can send and receive money, and more. After careful consideration, we narrowed down our list to the apps above. Article Sources PayPal. "Fees." PayPal. "PayPal Inc. - Who We Are - History & Facts." Cash App. "International Payments." Cash App. "Cash Out Speed Options." CNBC. "Square Shares Climb After the Payments Company Launches Bitcoin Trading for Most Users." Venmo. "How to Transfer Money to a Bank Account." Venmo. "Splitting & Sharing Purchases." Venmo. "About Us." Venmo. "Resources - Our Fees." Zelle. "How It Works." Zelle. "Get Started With Zelle." Google Pay. "Send Money to Friends and Family." Google Pay. "Transfer Money Out of Google Pay." Meta Pay. "Using Meta Pay on Messenger." Meta Pay. "How Do I Send or Receive Money in Messenger?"Best Payment Apps of 2024
Best for Bank Availability : PayPal
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Best With No Frills : Cash App
Best for Friends : Venmo
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Best for Banking : Zelle
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Best for Google Accounts : Google Pay
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Best for Social Media : Meta Messenger
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Final Verdict
Compare the Best Payment Apps
Company Fees Domestic or Foreign Transactions Transfer Time PayPal Best for Bank Availability No (yes for credit card and international transactions) Domestic and Foreign 1-5 days Cash App Best With No Frills No (yes for credit card usage) U.S. and U.K. only 1-3 days or instant transfers for a fee Venmo Best for Friends No (yes for credit card transactions) Only domestic 1-3 days or instant transfers for a fee Zelle Best for Banking No Only domestic Within minutes Google Pay Best for Google Accounts No (yes when withdrawing to debit card) Domestic; those in U.S. can send money to India and Singapore Instant to 5 days Meta Messenger Best for Social Media No Domestic and some foreign transactions 3-5 days Frequently Asked Questions
What Is a Payment App?
How Does a Payment App Work?
How Much Does a Payment App Cost?
What Is the Most Secure Payment App?
Which Payment App Is Free?
Methodology
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