In 2018, it seems that not having cash is no longer an excuse for not being able to pick up your share of the bill.
Whether it's a dinner in a restaurant or a shared football bet between friends, mobile payment apps have made sure that it's still easy to function in today's increasingly cashless society.
However, with more and more mobile payment apps available than ever before, how do you know which one is the best for you?
Mobile payment apps allow you to make purchases online and offline, without the need for a bank card. They also let you send payments to people and retailers around the world.
This is why they've become a part of everyday life for many people in the UK.
In today's blog post, we're looking at some of the most popular mobile payment apps of 2018, why and when you would use them, and what benefits they offer for their users.
Mobile payment apps are useful for just about everything. They allow you to make seamless transactions, without the need of sharing your bank details. This both saves time and makes sure your payments are always secure.
In addition, in 2018 mobile payment apps are now accepted in tons of different places. You can use them to play pay by phone casino games, to pay for your groceries, to book taxis… the list is endless.
Moreover, with more and more people using mobile payment apps, transferring money to your landlord, friends or family has never been easier.
In most cases, to get started using a mobile payment app, all you need to do is simply download the app and link it to your debit card.
Some apps also allow you to link a credit card, but do bear in mind that this may come with additional fees attached.
With so many mobile payment apps around, you may be confused as to which is the best for you. Luckily, we've compiled a list of the best mobile payment apps of 2018. We've judged each app on a series factors including:
You can see how each app performs in the table below, and then scroll down for a more in-depth evaluation.
|Circle||Square Cash (Cash App)|
Only iOS Devices
|Only Android Devices|
iOS and Android Devices
iOS and Android Devices
|iOS and Android Devices|
|Cost to Download||Free||Free||Free||Free|
|Peer to Peer Payments|
|Transaction Fees||Free for debit cards/ 3% fee for credit cards||No fees to send or receive money||No fees for debit card or bank account transactions/Cross-border fixed fee of up to £3.99 on international payments/3.4% + 20p fee for credit cards||No fees (Does not accept credit cards)|
Free for debit and credit card payments to retailers/3% fee for personal credit card transactions
For us, the winner here has to be PayPal. Whilst many newer payment methods (like Circle and Square Cash) may boast that they're doing things differently, we can't see what they offer that makes them more beneficial for users than PayPal.
That being said, PayPal does have it's drawbacks that we need to address. The international payment fee definitely stings, and the fact that you can't currently use the service for in-store payments is inconvenient.
However, PayPal is:
In an ideal world, we would suggest downloading a multitude of payment apps. Both Apple Pay and Google Pay both boast their own advantages to users of that operating system and all five of the options above are great for paying friends and splitting bills.
However, we do know that no one likes to crowd up their phone with multiple apps and it's a bit of a hassle to link your bank account to multiple payment methods.
Essentially, we're still waiting for the ideal mobile payment app to come along, maybe 2019 will hold the answer to our prayers…