With peer-to-peer payment services like Square Cash, Venmo, and PayPal theres no need to carry cash anymore.
Letslook at them, and decide which one rises above the others.
Availability
Square Cash,Venmo, andPayPaleach have free apps for iOS and Android devices.
You must also be 18 years old and within the U.S. to use the service.
Venmo is also available inall 50 U.S. states.
PayPal, on the other hand, is available worldwide in over 200 markets and 26 currencies.
Venmos transaction limit is different than Square Cashs, however.
PayPal, however, has no weekly transaction limits in place.
you might do this within the app, via email, or via web web client.
Each service has its own quirks, however.
In addition to the basics, Square Cash lets you send and receive money with $Cashtags.
once you nail a debit card linked with your Square Cash account, payments will usually transfer instantly.
Some payments, however, can take up to two days to fully transfer over.
The same goes for PayPal.
Venmo also differs itself from the others with a newsfeed-like setup of all you friends most recent transactions.
you might even comment on or like listed transactions if you want.
PayPal has a few edges on the competition due to its size and global status.
It should also be mentioned again that Venmo attempts to make money transactions a social endeavor.
While its not necessarily a security risk, its certainly not very private.
If you make public transactions, literally anyone will be able to see them.
Venmo and PayPal also both offer two-factor authentication via SMS text message.
Of course, theres no rule that says it’s possible for you to only use one service.
