Beyond that, heres a comparison of the most popular payment platforms.

Pros:

Easy to use if everyone has an iPhone.

More private than Venmo (you may not consider this a plus, but I do).

Requires you to set up two-factor authentication on your iCloud account.

There are no fees to send, request, or receive money.

Cons:

Both the sender and the recipient need an iPhone/iPad/Apple Watch and iOS11.2/watchOS 4.2 installed.

Transfers to a bank account take one to three days.

Google Wallet

Google Walletis a free p2p payment system.

You only need someones email address or phone number to send the money.

Money can be sent directly into your bank account if you choose that as the default option.

Funds can be spent instantly from your Google Wallet card.

you could add multiple bank accounts.

There are no fees to send or receive money.

You cancancel moneyyou sent if the person has not yet claimed it.

Cannot transfer money to people outside of the U.S. (or the U.K.).

Venmo

Peer-to-peer payment system thats easy to use and popular among the millennials.

Anyone can use Venmo, as long as they set up an account.

you’re able to snoop on your friends/make it social.

Everyone starts with a $299.99 weekly transaction limit.

If your identity is verified, your sending limit is boosted to $2,999.99 in any seven day period.

You cantcancel paymentsmade to wrong users.

Zelle

Think of Zelle as your parents alternative to Venmo.

If yourbank partnerswith Zelle, you’ve got the option to use your banks app to transfer money.

You only need someones email address or phone number to send them money.

Square Cash

Square Cash, or the Cash app, is also a peer-to-peer payment system.

Anyone can use it, and its relatively easy to navigate.

Will send you a debit card associated with your account that you’re free to use IRL.

Can also use for business transactions.

There are no fees to send, request, or receive money as long as its a personal account.

There is a 1% fee (of the deposit amount) for each instant deposit.

There is a 3% fee when payments are sent from a credit card.

Certain retailers offerdealsor discounts to PayPal users.

No fee when sending money from your PayPal balance or bank account.

Can be used to send/receive moneyoutside of the U.S.

No weekly transaction limits.

If you use it as payment at retailers, you miss out on credit cards points/rewards.