There are some great apps out there you can use now to send payments to friends, family or anyone. In this article four applications are reviewed for their simplicity and ease of use. Read on to see how Venmo, Google Wallet, Square Cash, and Paypal rated in this growing area of person-to-person payments.
What’s the best way to get your money back? WSJ Personal Technology columnist Joanna Stern tests the most popular money exchange apps.
“Just Venmo me,” my best friend’s kid sister nonchalantly said, when I asked where to send the check for my share of the bachelorette weekend in Newport, R.I. I did as she said, hoping she didn’t pick up on the fact that this longtime tech journalist still defaults to writing a check and putting it in the mail at times like this.
I pulled up the payment-exchange app on my iPhone, punched in my debit-card number and typed in a quick “To Julie, $286 for such a fun weekend” and hit send. Even before I had returned home to begin the recovery process, the money was in her Venmo account, ready to be cashed out into her bank account, or used for another payment.
Venmo is one of many apps aiming to make it easier to instantly pay or get paid by friends. And as I learned on that trip, it is quickly becoming a verb among the younger set, mostly because of its social features. Yes, even our private financial transactions are going the way of Instagram with likes and comments. Venmo can be surprisingly fun and convenient, though after testing the apps, I found Square Cash to be faster and easier to use.
The differences between the services become apparent once you start spending. Venmo, which is owned by Braintree, a PayPal unit, is all about turning your transactions into public status updates. If you grant it permission, the app will use your phone’s address book or Facebook account to find friends on the service. But sending money or requesting money from a friend is only part of it.
Read the original and complete article from The Wall Street Journal