Gone are the excuses of empty pockets because you always have your phone on you! Thanks to the invention of mobile payment apps, you can pay bills, split tabs, and send money to friends and family at the touch of a button. Hook your credit or debit card up to one of these apps and let the magic happen—just be sure you understand how it works and you know how to use your app safely. (Speaking of which, do you know about these seven online scams?)
Lucky for you, we whipped up this helpful chart to make sense out of all those new mobile payment apps out there. Pin it so your pals can be in the know too!
- Free to send/receive money to friends within the U.S., but business transactions (like eBay) cost 2.9% plus $0.30 USD of the amount sent/received
- Use this app (on BlackBerry, iOS and Android) to transfer money to friends with accounts, usually within 1 to 2 business days, via a bank account, credit, or debit card (using a credit card incurs a 3% fee)
- Sending money is like writing an email: You post what it’s for, then add the amount to transfer.
- Put all your cards on a smartphone, which you can tap on machines at supporting checkouts within the U.S. to pay for purchases (add a 2.9% fee for linking to a bank account or debit card)
- Spend funds as soon as you receive them—no waiting
- Like Venmo: Send or receive cash through an app, site, or by email, though payments can take longer
- Users 18 and over can send money through Snapchat’s texting service
- Link a debit card to your account; then tap the $ sign when you’re in Messenger and enter the amount to send
- Money transfers can take up to three business days
- Add credit or debit cards to the Wallet app to pay at store checkouts with your iPhone, iPad, or Apple Watch
- Works anywhere at over a million stores (complete list here), including some airlines.