There is no denying that using cash amidst the Covid-19 outbreak seems difficult. The number of cases have been picking up all over the world, people are stranded or under partial or complete lockdown. The suspension of railways and airways has only added to the panic in the world.
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During this time, people find it difficult and unsafe to deal with cash. There is a psychological factor that is boosting this concern more, and people are opting for digital or contactless payments wherever possible. Even businesses are encouraging people to use digital payments and thus, there will be a huge shift of behavior from cash to digital. Countries like the US, China, India have already taken some important steps forward in boosting digital payments among citizens.
During this time, even those who were not ready to use digital payments before are now ready to use their mobile devices and smartphones to transfer money. Undoubtedly, contact less payments have arrived as a new option for consumers.
The following are a list of good payment apps that are helping people transfer funds locally and globally:
When you think of making payments online, the first company that comes to the mind is PayPal. PayPal is one of the first companies to create a breakthrough in the reign of digital payments and it is the most preferred payment provider for local as well as foreign transactions. PayPal has garnered a good reputation in online and digital payments.
Venmo is owned by PayPal only, but the app is quite different from its mother company. Venmo app is designed keeping in mind the requirement of friends to send money to one another. The moment you sign in, you get the feel of logging in to a social media account. In the year 2019, Venmo had over 40 million active accounts.
Square Cash was established to ease peer-to-peer payment. Square Cash is pretty much like Venmo, the only difference is that Square Cash does not have social media features. The money can be received and sent through a Square Cash account. The funds are directly drawn from a linked bank account via debit/credit card at no cost.
With Zelle, it is now possible to transfer money to friends and family very easily from your bank. The only requirement is that you need to have an account in the participating bank. You can check the list of the banks before creating your account.
Google is everywhere and the company is offering every thing that helps an individual to stay online amd take care of multiple aspects of life and work. Recently, Google came up with the idea of a convenient payment gateway, Google Pay, which enables a user to transfer and receive money right from one’s bank account.
When Facebook knows a lot of things about you, using the messenger app to clear payments is also something to think about! With the help of Facebook messenger, you can now send money hassle free without any need for the other user to sign up.
Even though not meant for person to person transfer, Samsung Pay is still a robust platform for making digital payments via your portable Samsung devices. With the help of Samsung Pay, you can carry your favorite cards on your devices so you can pay anyone or make digital payments hassle free.
A PayPal service, Xoom is another good app to transfer money from one place to another. The main purpose of this app is to help transfer money to other countries. The app is compatible with Android and iOS. The cost of each transaction will depend upon the country you are sending money to.
Perfectly compatible with Android and iOS, Circle Pay is one of the best digital payment apps to transfer money to other countries. As the app directs payment directly from your bank, the app might not charge any fee for the transaction, but your bank may charge.
As the name suggests, this payment app is meant only for iOS users. Apple has etched its footprint in every industry and it is helping its users go cashless at ease during these tough times. Send money wherever and whenever and you will be charged just 3% of the amount transferred.
All of these above mentioned payment methods work with great efficiency. Whether you wish to transfer money to a friend residing in a nearby local neighborhood or to your parents staying miles away from you in a different country, you can pick up any of the payment methods and complete your transaction.
