![]() ![]() It took me just a few minutes to set up each app, entering details like my debit card number, ZIP code, full name and phone number for verification. None of these apps requires NFC (near field communication) technology in your phone all you need is a connection to the Internet. Square Cash originally launched using a system that involved sending an email to someone with the dollar amount in the subject line and copied in the message, but the majority of people now use the Square Cash app, which doesn’t involve email. The basicsĪll three of these apps work on iOS and Android, as well as via Web browsers. My hope is that this guide will make you at least a little more comfortable with digital payments - even helping you pay your sister back on time. Facebook also joined the fray in March, enabling fee-free P2P payments via debit card between friends in Facebook Messenger, but the feature is still rolling out and hasn’t been added in my app. This week, I dived into three P2P payment apps - PayPal, Square Cash and Venmo (acquired by PayPal in December 2013). forecast for mobile P2P payments from $4 billion by 2017 to $5 billion in 2014. Forrester Research, however, is hopeful: In a study published last fall, it updated its U.S. Whether it’s app overload or nervousness about digital transactions, P2P payments have a way to go before they catch on with a majority of my friends and family. Yet, when I polled a broader group, most of the people I talked to weren’t using peer-to-peer payment apps, even if they had heard of them. It’s understandable that they have symptoms of download fatigue. Given my job as a tech reviewer, I often hit up my relatives and close friends for testing help. But when I sent my sister a text inviting her to use the peer-to-peer payment app Square Cash so we could pay each other without sending checks, her response was, “Do you need me to do this?” She wasn’t thrilled about downloading yet another app, learning how to use yet another service and creating an account with yet another company. Neither of us is too concerned about the balance we know we’re good for the money. She got another cousin the wedding gift that we agreed to split I owe her. I bought our Dad a dual-blade hedge trimmer for Father’s Day she owes me. She sent a bouquet of flowers for our cousin’s high school graduation I owe her. My sister and I keep a running tab with each other. ![]()
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