2017 RANKING & REVIEWS
TOP RANKING BEST MOBILE PAYMENT SYSTEMS
2017 Guide: Exchange Money Fast with the Best Mobile Payment App
In a world that has become increasingly digital, do you find yourself struggling to scrounge up an actual five-dollar bill to pay your coworker back for the coffee they bought you on the way to work? With credit cards, debit cards, and smartphones, our ability to live without cold hard cash is becoming evident.
So how do you pay your coworker back for the coffee or split the dinner bill with your friend if neither of you has cash? Thankfully, the ability to pay with mobile apps has begun to take root.
That means with a desktop computer, laptop computer, tablet, or smartphone, you can download apps that give you the ability of an online mobile payment.
Award Emblem: Top 6 Best Mobile Payment Apps
These mobile payment services allow you to use your phone, computer, or tablet essentially as a wallet. Mobile payment apps give you the ability to link bank accounts, credit cards, and debit cards so that you can easily send money to your friends or pay for your coffee without digging your wallet out.
The tricky part of mobile pay is choosing the best mobile payment app to use. There are many different options to choose from, and each mobile payment app offers a different set of features.
When looking for the best mobile payment app to add to your phone or tablet, you probably have many questions floating through your mind, such as:
- Are mobile payment services safe?
- Do you need a smartphone to use an online mobile payment system?
- Can you use pay with mobile at all stores?
- What are some of the best mobile pay apps?
Throughout this 2017 guide, we will answer questions that you have surrounding the use of a mobile payment app. We will explain why pay by mobile can be beneficial for you, especially in a business sense, and what to look for in payment apps. Finally, we will provide a detailed review of the six best pay by mobile apps.
By the end of this article, you should have a better idea of what the best mobile pay app is for you.
Advisory HQ’s List of Top 6 Best Mobile Payment Systems
List is sorted alphabetically (click any of the payment apps below to go directly to the detailed review section for that online mobile payment app):
Top 6 Best Mobile Payment Apps | Brief Comparison & Ranking
Best Mobile Payment Apps
Type of Pay by Mobile App
Social peer-to-peer payment app
Peer-to-peer payment app & mobile payment platform
2.9% plus $.30 per transaction
Peer-to-peer payment app & alternative payment system
Free for personal use
Peer-to-peer payment app
3% fee per payment for credit cards
Detailed Overview: What to Look for in a Mobile Payment Gateway
Having the ability to pay with mobile is a great asset. Instead of digging through your wallet looking for a spare, nonexistent five-dollar bill to pay a friend back or juggling your wallet and shopping bags when at the mall, you can simply use your smartphone to pay.
Mobile payments apps make your life easier, as well as the lives of those around you. The real trick is trying to choose the best mobile payment gateway to utilize. There are so many options out there, and it can be easy to become frustrated.
Image Source: Pexels
How do you choose the best mobile payment app from a list of mobile pay apps that seems to be growing every day? For starters, you need to know what to look for. All mobile payment apps have their own unique interface and features to consider.
When you are trying to determine which of the mobile payment systems is best for you, consider the following:
- Type of mobile payment app: There are different types of mobile payment systems. There are peer-to-peer payment apps that allow you to transfer money between you and a friend. There are also mobile wallets, like Apple Pay, that allow you to load credit cards and gift cards into your smartphone.
- Desktop vs. app: Do you want to be able to use your computer, or just a smartphone? Some mobile payment apps can be synched between both, while others are only for phones.
- Fees & limits: Some mobile payment apps charge a fee to receive money or have limits to how much you can receive. Be sure to know if the mobile payment app you choose is going to be taking a cut of your money.
- Ease of use: Is the app easy to use? It is important, especially since you are dealing with money, that the app is easy to use. You certainly wouldn’t want to send a stranger that $20 instead of a friend.
It is important to take the time to consider these all of these mobile pay app features before you choose the best mobile payment app for yourself.
Advisory HQ’s Selection Methodology
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?
Please click here “AdvisoryHQ's Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.
Detailed Review—Top Ranking Best Mobile Payment Apps
Below, please find the detailed review of each mobile payment gateway option on our list of mobile payment services. We have highlighted some of the factors that allowed these payment apps to score so high in our selection ranking.
Apple Pay Review
Apple Pay is one of the mobile payment systems that you can use. This digital wallet uses near-field communication technology that enables you to pay via your Apple iPhone.
If you’re worried about security, this is one of the best mobile payment apps. Apply Pay has the added security layer of the Touch ID fingerprint sensors that can be found on most iPhones.
When you are looking into mobile payment systems, widespread adoption is something to consider. If many retailers or stores don’t take a mobile payment system, then it doesn’t serve much use. Thankfully, Apple Pay is backed by six major credit card–issuing banks, and is supported by more than 700,000 merchant locations.
If you are a major techie, you’ll also love how Apple Pay works with your Apple Watch as well. You simply need to swipe your watch where the iPhone normally does, and viola your payment is made.
Facebook Messenger Review
Though it seems a bit unorthodox, Facebook Messenger now allows you to pay with mobile. The tech company announced the launch of a peer-to-peer mobile payment system that works within the Facebook Messenger platform.
The great thing about mobile payment systems is that they make your life easier. Facebook Messenger does just that, by allowing you to send money to anyone in your Facebook friends easily.
You simple sign into the Messenger app, select the $ icon, and type in the amount of money that you will be sending your friend. When you send money with this best mobile payment app, it is transferred right away.
As an added bonus, you can add a debit card to receive money from your contacts as well.
Overall, Facebook Messenger is a quick and easy way to mobile payment app. It utilizes the Facebook Messenger platform that you’re already familiar with, which also cuts down on the learning curve.
Google Wallet Review
Google Wallet is another one of the mobile payment systems that you can download on your smartphone. Similar to Apple Pay, Google Wallet utilizes near-field communication technology.
You can store credit and debit cards on this mobile app. Google Wallet evens goes a step further to allow you to load gift cards and store loyalty cards into the mobile payment service. That means you don’t need to keep your gym, grocery store, and retail store loyalty cards on a key ring or in your wallet.
Perhaps what makes this a best mobile payment app is the ability to send money to other users through Gmail attachments. This is a great feature, along with the fact that Google Wallet is FDIC-insured.
PayPal is one of the oldest mobile payment apps that have been around. What started as an online mobile payment before smartphones even existed, has branched into a mobile payment app used by both businesses and individuals.
If you do not already have a PayPal account, it is extremely easy to set up and use. Most online stores have a PayPal option. That means you won’t have to go find your wallet, instead just logging into your PayPal account and selecting your payment option.
PayPal can also be used as a mobile payment app on an individual basis. That means you can send money to friends. The only drawback is that there is a 2.9% fee to accept payments on PayPal. It’s not a large amount, but it can get awkward when you only receive $97.10 for the $100 that you friend owes you.
PayPal is one of the mobile payment apps that have survived the test of time. Not only has PayPal survived, but it has also thrived and adapted to the changing digital e-commerce world. This might be the best mobile payment app for those who enjoy online shopping.
Square Cash Review
Though newer to the game than mobile apps like PayPal, Square Cash is another mobile payment gateway that you can utilize.
This peer-to-peer app allows you to exchange money electronically. That means an easier way to split bills at dinner, or reimburse your friend for the concert tickets that they purchased. With Square Cash you don’t have to worry about making extra trips to the bank.
Square Cash is also one of the mobile payment apps that businesses can take advantage of. With the ability to plug an attachment into your smartphone or tablet, you can actually slide and accept credit card payments.
Though there is a fee for the Cash Pro account that allows businesses to accept credit card and mobile payments, Square Cash is free for personal use.
If you are looking for the best mobile payment app to add to your smartphone, Square Cash might be a good option. It’s free to use on a personal basis, and can save you and your friends from unnecessary trips to the bank.
Venmo is all the rage with millennials these days. This mobile payment app has found a way to make payment social, which is a hit with the younger generations.
The great thing about Venmo is you can pay anyone with their phone number or email, even if they do not have the Venmo application downloaded. Payment also arrives instantly, so there’s no need to wait.
While receiving money with Venmo is always free, making it an option for best mobile payment app for peer-to-peer exchanges, there is a three percent fee to use non-major debit cards and credit cards. This isn’t a deal breaker, but it is something to keep in mind if you aren’t planning to link your bank account.
Venmo can be the best mobile payment app if you are looking for a fun, easy-to-use app to transfer money between you and your friends quickly. Whether you’re reimbursing your friends for the hotel room they purchased or splitting a dinner bill, Venmo is quick and free.
Conclusion—Top 6 Best Mobile Payment Systems
Are you tired of dealing with an overstuffed wallet? Do you want an easier way to pay friends back immediately? If you answered yes to either question, then mobile payment systems can be a great asset for you.
Depending on the type, mobile payment apps allow you to link credit cards and bank accounts so that you can easily make online mobile payments to friends, coworkers, and even businesses. The days of a stacked wallet will be behind you and the feeling can be quite liberating.
However, there are so many mobile payment apps to choose from. It takes careful consideration to choose the best mobile payment app to utilize. When you are dealing with money and credit cards, you want to be sure that you are choosing safe, secure mobile payment apps.
Image Source: Pixabay
It is important to know what features to consider when choosing the best mobile payment app to utilize. Make sure that you ask yourself the following:
- Are you okay loading your bank and credit information into a pay by mobile app?
- Is the mobile payment service you are considering secure?
- Does the app have all or most of the features that you are looking for?
- What fees are associated with the mobile payment gateway you are considering?
These are just a few questions to ask yourself to ensure that you choose the best mobile payment app. Take some time and compare a few different mobile payments apps to see which fits your needs best.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.