Mobile Payment Apps: The New Way to Send and Receive Money

Jan 16, 2018

As it becomes increasingly common and accessible to use the mobile phone as a wallet that can send and receive money as well as make payments, so does the number of apps that help to facilitate these transactions. With so many different ones available, this article discusses the best apps and tools that can be used for a range of payment purposes.


Square is a highly portable device that connects to the phone which allows users to accept physical card payments either through the earphone jack or wirelessly through Bluetooth. Perfect for both business and personal usages, Square is an alternative to traditional Point of Sales (POS) systems that are expensive, bulky, and designed solely for business applications. All that is required from the user is to set up an account and order the Square reader before they can begin taking payments from nearly any credit and debit card. One of the best features of Square is that receipts can be made in electronic or physical copies as well as the ability to send invoices to better track transactions. Through being able to accept card payments by swiping and even tapping for NFC enabled cards, Square is one of the best tools that can be used to receive credit and debit card payments.

How Square Works

Square is more than just a little white reader. But still, you can get a free card reader and start accepting credit cards today at Seriously though, Square makes it easy for you to start, run, and grow your business with reliable, affordable hardware, and powerful, intuitive software.

Paypal (iOS/Android)

As one of the most popular mediums for online payments, PayPal lets users quickly send money to anybody with a PayPal account across the world instantly. Without the need to go to a bank in order to send the money which could take several days, users simply enter in the email associated with the receivers account and then select the amount. Oppositely, invoices and requests can be made for money while there are also various options for transactions including gifts, purchases, and transfers to friends and family. As an online wallet that can hold multiple currencies, make online transactions, and transfer money between people, PayPal is one of the most comprehensive apps available for managing money online.

How to Send Mobile Payments (PayPal)

Want to know how to send mobile payments quickly and easily? Send money almost anywhere in the world in seconds with the PayPal App for Android. This video shows how to manage all the ways you send, spend, and receive at a glance. It’s all here.

Google Wallet (iOS/Android)

To quickly send and request money, Google Wallet is an app that lets users settle transfers between each other in an easy way. For example, one of the best use cases for Google Wallet is when friends are requesting money from each other, they can simply do so using a phone number or email. This makes it user friendly to split the bill among several people without the awkward, uncomfortable conversations regarding money. The significant ease-of-use of the Google Wallet stems from the fact that it also integrates with the Messages app for iPhone so that the payment can be sent right in the conversation. With all of these features, Google Wallet is one of the best apps available for peer-to-peer money transfers.


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Android Pay (Android) and Apple Pay

An increasingly popular form of payment is through the mobile phone as it acts as a wallet which holds multiple credit cards. Through NFC technology which allows for tap as a way to pay, these mobile wallets make it convenient  to pay at any POS system that accepts this form of payment. With all of the mobile cards on the phone, users do not have to carry them all in the wallet all of the time. Furthermore, loyalty cards can also be stored on the payment systems so that points can still be collected for each purchase. A benefit to using these tools to make payments is that all of the transactions can be stored and tracked in a single place instead of being scattered across multiple different card platforms.

Messenger (iOS/Android)

Although one of the most popular apps available on both the App Store and Google Play Store, a feature that not many people are aware of with the Messenger app for Facebook is that it can be used to send money between friends in an integrated interface. Made to be one of the easiest ways to send and receive money, all that has to be done is for users to open up a chat on the app and then select the dollar sign icon. From there, users can select the amount and write what the money is for before it is sent. As all of the contact details are already loaded on Facebook, users do not need to enter in any additional information beyond the amount that is being transferred and a message for the receiver which makes it one of the easiest platforms to send and receive money.

Given that the transition into the mobile space has been very quick and successful for mobile payments and money transfers, the apps and tools listed in this article are able to facilitate the transfer of money in ways that were not possible in the past. From making card payments to transferring money between peers, these tools are able to bring forth the digital revolution in the realm of payments for both personal and business usages.

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Kevin Chau

Following my passion in the realm of business and entrepreneurship, I am always eager to develop skills that enable me to learn, build, and grow. My previous projects, both academic and personal, reflect my dedication towards expanding and applying my theoretical knowledge for practical results in these fields.

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