Are you still carrying around a wad of cash and a few credit cards in your wallet? If you are, you likely won’t be for long. More and more people are using mobile payment apps to link mobile devices to their bank accounts and credit cards, thereby streamlining their financial transactions. Many of these apps make it easier to pay vendors or conduct peer-to-peer transactions; they can even help you split a cable bill with the rest of your roommates. Let’s look at six of the best mobile payment apps out there that can make your life much easier.
PayPal has been around in one form or another for two decades, a long time for anything on the Internet! In addition, while many other payment apps have arisen since then, PayPal remains one of the most recognized and trusted mobile payment methods. In fact, there are now over 200 million registered PayPal accounts across the globe. You can use PayPal to pay for goods and services on thousands of commercial websites; you can also use it to send and receive cash to and from friends and family. More and more brick and mortar stores are accepting PayPal now too, an added benefit to having an account.
Do you have roommates who share bills with you, such as rent and utilities? Do you stress out trying to divide the check every time you dine out with friends? If so, then Venmo can definitely make your life much easier. Venmo is another great payment app you can use to pay for purchases, or to send and receive money. However, Venmo is especially useful when you have bills you have to split up with other people. Any time you make a purchase or payment on Venmo, you can choose to share or split the payment with another Venmo user. This can make dividing the cable bill or the tab at your favorite bar a breeze!
3. Samsung Pay
Samsung Pay is another great mobile pay app, similar to PayPal and Venmo, but only for Android users with select Samsung devices. However, this app has one feature that its competitors lack: you can use Samsung Pay to make a mobile payment anywhere that accepts credit cards. Anywhere you shop that uses credit cards at the point of sale – from a coffee shop, to a farmers market, to a car dealership – your Samsung Pay app will be ready to help you close the deal. If you have Samsung Pay on your smartphone, you can definitely start leaving all your credit cards at home.
Do you frequently have to send and receive payments from abroad? If so, you should definitely start using Xoom. Xoom is an app from PayPal, specially designed to help people conduct international financial transactions. The service works in 73 countries across the globe. Xoom will help you determine what the exchange rates and fees will be for your global transfer, and let you send funds internationally in a matter of seconds. Therefore, if you have friends, family, or businesses you conduct transaction with on a regular basis, this app can help simplify all those transactions and save you time.
5. Apple Wallet
If you aren’t ready to get rid of your wallet just yet, why don’t you just compromise by digitizing it? Apple Wallet is a great way to turn your smartphone into a virtual wallet and keep everything you need on hand there. You can use it to keep all your store cards handy; just upload them one by one into your Apple Wallet and pull them up when need them to pay for items at your favorite stores. You can keep many of the most popular coupons in a passbook as well and bring them up when it’s time to pay at the register. You never have to worry about leaving your airline tickets on the kitchen table when you head to the airport, either; just store a digital copy in your Apple Wallet and they’ll always be with you.
Do you dread that time of the month when you sit down with all your monthly bills and your checkbook? Well, if you download Mint, you can pay all your bills from wherever you are. Mint is a terrific financial app that links to your bank account and lets you track all your monthly bills and payments. It’ll send you alerts when the bills are due and let you pay them instantly, with a few clicks on the screen. The app also helps you keep track of the balances in all your accounts, and will even help you monitor your credit score, too.
Mobile payment apps are revolutionizing the way we execute financial transactions. They can make paying for things easier and help you send and receive money with ease. What’s more, they can help you to maintain a budget and stay on top of your finances. Most of them are free, and easy to use. So, what are you waiting for? Put away your cash, loose change, and credit cards and start using these mobile payment apps to make your life easier!