Best Mobile Payment Apps: Make Your Smartphone a Wallet

We evaluated more than a dozen mobile payment apps, paying particular attention to the features we feel will be the most important to the largest number of users. For example, while most users naturally want a payment app to transfer funds to and from family and friends, we also considered the ability of an app to be used to make purchases, especially across international boundaries. After evaluating the major criteria, we concluded that Google Pay is the best all-around mobile payment app.

Mobile payment apps are becoming increasingly important. Credit and debit cards make it easy for customers to make purchases in-store and online. They also allow users to access cash, either from ATM machines, or on cash-back purchases in-store. But neither has allowed consumers to transfer cash between one another. And with increasing discussions of a cashless economy, the ability to transfer funds on a person-to-person basis is becoming increasingly relevant.

In performing our review of the mobile payment apps below, we considered information disclosed by the app sponsors, the popularity of each app, reviews by other sources, as well as personal experience with some of the apps.

Best For…

Not every mobile payment app does everything well. But many specialize in a certain category. We’ve broken down the apps that are the best in specific categories as follows:

• Best for scheduling payments: Radius
• Best banking and payment app : Chime
• Best for international transfers: PayPal
• Best for purchases: Venmo
• Best for completely free transfers: Zelle
• Best for secure transactions: Google Pay
• Best for Apple enthusiasts: Apple Pay

Factors to Consider When Choosing a Mobile Payment App

When selecting the best mobile payment apps, it’s important to select the one that will work best for your particular needs. Consider the following:

• What you plan to use the app for: Do you mostly plan to use the app to transfer funds to and from family and friends? Or do you plan on also using it for everyday purchases?
• Fees: Though mobile payment apps are typically free to use for certain transactions, there may be costs associated with other services. For example, if you plan to link a payment app to your credit card, there’s usually a fee of 3% for each purchase.
• International support: Some mobile payment apps, even popular ones, can only be used within the U.S. If you plan to transfer funds to and from parties overseas, you’ll have to make sure the app supports such transfers.
• The availability of a debit card: Some apps offer one, but others don’t. A debit card will greatly expand the capabilities of the app, including the ability to access cash at ATM machines.
• Payment limits: Some apps will limit person-to-person transfers to no more than a few hundred dollars. Others will accommodate thousands.
• App security: Since you may be running dozens of transactions through an app each month, you’ll want to be certain the app is completely secure.

Best Mobile Payment Apps

• Google Pay

Google Pay allows you to send or request money, check out in app and on the web, and pay in stores using your smartphone. It can be connected to an American Express, Discover, MasterCard, or Visa card, as well as a bank account. It can even be used with your PayPal account. The app has been installed by over 100 million users.

Transfers to a linked debit card are typically completed within minutes, but they may take up to 24 hours for certain banks. Transfers to a bank account are usually completed within 4 business days.

Operating System Support: iOS/Android

You can download Google Pay on all non-rooted Android devices (Lollipop 5.0 and higher) on Google Play.

The app is available for iOS devices of 9.0 or later and can be downloaded on the App Store. It is compatible with iPhone, iPad, and iPod Touch.

Payment Fees

There is no fee for transferring money to and from your linked bank account or debit card.

Device Support

Google Pay can be used on the web or through the smartphone app. It is available for Android and iOS, iPhone, iPad, and iPod Touch.

Payment Amount Limits

Google Pay transaction limits are as follows:

Send up to $9,999 in one transaction.

Send up to $10,000 in seven days.

If you live in Florida, you can send up to $3,000 every 24 hours.

Where Can You Pay with Google Pay?

Google Pay can be used to transfer funds, as well as to make online purchases, buy Google products, or to make in-store purchases. You can pay using your smartphone anywhere you see the Google Pay logo.

International Support

Google Pay is available for in-store purchases in the following countries: Australia, Belgium, Brazil, Canada, Croatia, Czech Republic, Germany, Hong Kong, Ireland, Italy, Japan, New Zealand, Poland, Russia, Singapore, Slovakia, Spain, Taiwan, Ukraine, the United Kingdom, and the U.S.

The app is available in additional countries for pay online or in apps purchases. However, it can only be used to send money in the United States and the United Kingdom (web only in the UK).

Security

Google Pay protects you with multiple layers of security, including use of one of the world’s most advanced security infrastructures. When you pay in stores, the app uses an encrypted number instead of your actual card number. Your real card details remain anonymous.

Your payment information is encrypted and stored on secured servers. You can also set up a screen lock on your device before you add cards to the app for in-store payments. When you turn off the screen lock, your virtual account number is removed from your device for your protection. To make most purchases, you’ll need to unlock your phone.

Google pay also comes with fraud protection. That includes 24/7 fraud monitoring, and coverage of 100% of all verified unauthorized transactions.

• Radius Bank

What we love about the Radius Bank app is that you’re getting the backing of a financial institute in addition to the convenience of a mobile payment app. The mobile wallet is compatible with both Android and iOS — either through Apple Pay, Google Pay or Samsung Pay. You can also pay friends and family through Radius’ pay a friend feature, no matter if they’re a bank customer or not. Plus, your linked Radius Bank debit card can also be used overseas.

The app offers the following features:

Operating System Support: iOS/Android

The app is supported for iOS and Android devices. You’ll need to download Apple Pay in the App store. The app is available for Android devices on Google Play. It requires Android 4.1 and up.

Payment Fees

There is no fee for transferring money to and from your linked bank account or debit card.

Device Support

The Radius Bank app is available for mobile devices, including iOS and Android devices.

Payment Amount Limits

Payment amount limits will depend on the app you use within the Radius app for mobile pay.

Google Pay transaction limits are as follows:

Send up to $9,999 in one transaction.

Send up to $10,000 in seven days.

If you live in Florida, you can send up to $3,000 every 24 hours.

Apple Pay has several cash limits.

Apple Pay Cash balance limit: $20,000

Adding money from a debit or prepaid card: Minimum $10; Maximum per transaction, $3,000; Maximum within a seven-day period, $10,000

Sending and receiving limits: Minimum per message, $1; Maximum per message, $3,000; Maximum within seven days, $10,000

Transferring money to your bank: Minimum, $1; Maximum per transfer, $3,000; Maximum within seven days, $20,000

Samsung Pay’s limits are the one your bank or credit card imposes.

Where Can You Pay with Radius Bank?

You can use the app to make purchases and send and receive money to and from individuals. You can also transfer funds from your bank account to your mobile wallet account, then access it when making payments at retailers.

International Support

Radius is available for international purchases. Purchases are free to make, but you may be subject to foreign transaction fees.

Security

The Radius app comes with 24/7 transaction monitoring, 256-bit secure encryption technology, fraud protection, and fingerprint and two-factor authentication.

• Chime Bank

In addition to being able to connect with apps such as Apple Pay, Google Pay and Samsung Pay, Chime’s banking app offers account holders the ability to send money to friends and family via their internal app. In other words, you have plenty of choices in how to send money, plus have the ability to bank inside one award-winning app.

The app offers the following features:

Operating System Support: iOS/Android

The app is supported for iOS and Android devices. iOS requires iOS 11.0 or later, and can be downloaded on the App Store. It’s compatible with iPhone, iPad, and iPod Touch.

The app is available for Android devices on Google Play. It requires Android 5.0 and up.

Payment Fees

There is no fee for transferring money to and from your linked bank account or debit card.

Device Support

The Chime Bank app is available for tablets or mobile devices, including iOS and Android devices.

Payment Amount Limits

Limits for Apple Pay, Google Pay and Samsung Pay apply (see above). Limits to send to family and friends with Chime’s internal app feature is $2,000 per month.

Where Can You Pay with Chime Bank?

You can use the app to make purchases and send and receive money to and from individuals. You can also transfer funds from your bank account to Apple Pay, Google Pay and Samsung Pay.

International Support

Chime Bank is available for international purchases via Apple Pay, Google Pay and Samsung Pay.

Security

The Chime Bank app comes with 24/7 transaction monitoring, secure encryption technology, fraud protection, and fingerprint and two-factor authentication.

• PayPal One Touch

PayPal offers its One Touch Mobile Cash Money App & Virtual Wallet app. One of the major advantages with the PayPal app is that it works with the basic PayPal account, which is a well-established payment system with a number of widely accepted features.

You can get access to mobile payments by taking a picture of your bank, debit or credit card and upload it to your digital wallet. PayPal works with nearly every bank in the country.

The app offers the following features:

Operating System Support: iOS/Android

The app is supported for iOS and Android devices. The iOS app requires iOS 10.0 or later, and can be downloaded on the App Store. It’s compatible with iPhone, iPad, and iPod Touch.

The app is available for Android devices on Google Play. It requires Android 4.4 and up.

Payment Fees

Transfers to and from a linked bank account are free. Instant transfers to or from an unlinked bank account require a fee of $0.25 per transfer. There are no fees when you make purchases either online or in-store.

There is also no charge to send or receive payments to or from family and friends in the U.S. if the funds are from either your PayPal account or a linked bank account. If sending funds, the receiving party must also have a PayPal account.

If funds are sent to family or friends in other countries who also have a PayPal account, the fees are as follows:

Under $50: $0.99

$50 and up: $2.99

$100 and up (other than Canada and Europe): $4.99

Sending money using a credit card, debit card or PayPal Credit comes with a fee of 2.9% + $0.30 in the U.S.

If you send money internationally using a credit card, debit card or PayPal Credit, the transaction fee structure is as follows:

Under $50: 2.9% + $0.99 + a currency fee from the schedule below

$50 and up: 2.9% + $2.99 + a currency fee from the schedule below

$100 and up (other than Canada and Europe): 2.9% + $4.99 + a currency fee from the schedule below

Device Support

The PayPal One Touch Mobile Cash Money App & Virtual Wallet app is available for tablets or mobile devices, including iOS and Android devices.

Payment Amount Limits

Payment limits are as follows:

Up to $5,000 per transaction

Up to $5,000 per day

Up to $5,000 per week

Up to $15,000 per month

Where Can You Pay with PayPal?

You can use the app to make purchases, and send and receive money to and from individuals. You can also transfer funds from your bank account to your PayPal account, then access cash using your PayPal debit Mastercard.

You can also use your account to send money internationally, though fees will apply (see Payment Fees above).

International Support

PayPal One Touch is available for international transfers and purchases. Purchases are free to make, but transfers to individuals do have fees, as explained under the Payment Fees section.

Security

The PayPal app comes with 24/7 transaction monitoring, secure encryption technology, fraud protection, and fingerprint and two-factor authentication.

When you make purchases, you’re also eligible for PayPal Purchase Protection.

• Venmo

With Venmo, you can send money and make purchases at approved merchants. You can pay family and friends, either using funds you have in the account or through a linked bank account or debit card.

Operating System Support: iOS/Android

Venmo is available for iOS devices on the App Store. It requires iOS 10.0 or later. The app is compatible with iPhone, iPad, and iPod Touch.

It can be downloaded on Android devices at Google Play, and requires Android 5.0 and higher.

Payment Fees

Venmo is free to use if you send money using your Venmo account balance, linked bank account, debit card, or prepaid card. If you use a credit card, there is a standard fee of 3%.

Receiving funds is always free.

When you make purchases using Venmo through PayPal, Venmo does not charge any additional fees.

Standard transfers are free, however there is a charge of $0.25 deducted from the transfer amount for any instant transfers. (Standard transfers are completed in 1-3 business days, while instant transfers are completed within 30 minutes.)

Venmo Debit Mastercard: There is no fee when you use the card for purchases, even if you get cash back on the sale. You can also use the card at ATM machines. If you make withdrawals at MoneyPass ATMs, there is no fee. If you use an out-of-network ATM, there is a $2.50 ATM domestic withdrawal fee, as well as fees that may be charged by the owner of the ATM.

There is also a $3 over-the-counter withdrawal fee if your signature is required to obtain cash back at a bank or other financial institution.

Device Support

Venmo is available for Android and iOS mobile devices.

Payment Amount Limits

Venmo payment amount limits are as follows:

Overall combined sending limit – $6,999.99

Maximum weekly spending – $4,999.99 person-to-person payments; $6,999.99 authorized merchant payments; $6,999.99 Venmo Mastercard Debit Card purchases

Per transaction limit – $4,999.99 person-to-person; $2,999.99 authorized merchant payments; $2,999.99 Venmo Mastercard Debit Card purchases

Where Can You Pay with Venmo?

You can shop at millions of websites using Venmo as a payment option in connection with PayPal. You can also use the Venmo Debit Mastercard to shop at any merchants where Mastercard is accepted.

The app even keeps track of what you buy, as well as when and where you bought it. You can also use the app to quickly transfer money to your bank account.

International Support

Since Venmo works in conjunction with PayPal, you can use it to make purchases anywhere PayPal is accepted, including international vendors and merchants.

However, Venmo itself does not yet have international capabilities so you can’t arrange transfers to and from foreign-based parties.

Security

Venmo uses encryption to protect your account details, as well as store the information on servers in secure locations. If you lose your mobile device, you can go to venmo.com and remove the session associated with your phone. That will automatically sign you out of the app on the phone. Venmo also uses multi-factor authentication as well as a personal identification number code to access the app.

• Zelle

Zelle is a common payment system that’s become very popular with banks and credit unions. Many offer it as an instant transfer system for their customers. You can send money to nearly anyone you know who has a bank account in the U.S. That person doesn’t even need to be a Zelle participant.

You can send money to someone in just minutes, using just their email address or mobile phone number. It doesn’t even matter if they don’t work with a participating bank. However, if the recipient does not already have the Zelle app, it can take up to 3 business days for a transaction to go through.

Operating System Support: iOS/Android

If your bank or credit union offers Zelle, you can use their online banking site to both send and receive money. You don’t even need a mobile device to do this.

But if your bank or credit union doesn’t use Zelle then you must have a smartphone to access the app. You must also connect the app to a bank account, using a Visa or MasterCard debit card tied to the account.

You can download the app at the App Store for iOS 9.0 or later. The app is compatible with iPhone. For Android devices, you can download the app at Google Play. It requires Android 5.0 and up.

Payment Fees

There is no fee if you use Zelle to send or receive money. But they do recommend you verify with your bank or credit union to see if they may have fees connected with the transfers.

Device Support

Zelle is available for Android and iOS mobile devices. But it could also be accessed through a desktop or tablet computer if the service is offered by your bank or credit union.

Payment Amount Limits

If Zelle is offered by your bank or credit union, the financial institution will determine the spending limits through the app. But if you’re using the app without a bank account or credit union, the weekly sending limit is $500. Unfortunately, that limit can be neither increased or decreased.

Where Can You Pay with Zelle?

Zelle is a money transfer system between individuals. It is not available for use as a payment method for purchases online or in store.

International Support

Zelle only works with U.S.-based banks. It cannot be used for international transactions.

Security

Zelle uses authentication and monitoring features to make your payments secure.

• Apple Pay

Apple Pay is a payment app that works with Apple devices. You can use it to make secure purchases in stores, in apps, and online. You can also send and receive money from family and friends. Payments can take place in the Messages function, or you can do it by asking Siri.

You make payments by connecting the app to your debit or credit card. You can also receive cash, that’s then added to your Apple Pay cash card. The card sits in the Wallet app. You can use the cash immediately to make purchases in stores, in app, on the web, or you can transfer the cash balance to your bank account.

You can add your credit and debit cards to the Wallet app, and even include boarding passes, tickets, rewards cards, and even your student ID card. You can add between eight and 12 cards on the app. Apple Pay works with most credit and debit cards from nearly all U.S. banks.

Operating System Support: iOS/Android

Apple Pay is available for the latest versions of iOS, watchOS or macOS.

Payment Fees

There is no fee to use Apple Pay cash with a debit card. But if you send money using a credit card, there’s a standard 3% credit card fee on the amount funded.

Device Support

Apple Pay is available with your iPhone or Apple Watch. You can also make purchases on the web in safari or on your iPhone, iPad, or Mac Device.

Payment Amount Limits

Apple Pay has several cash limits.

Apple Pay Cash balance limit: $20,000

Adding money from a debit or prepaid card: Minimum $10; Maximum per transaction, $3,000; Maximum within a seven-day period, $10,000

Sending and receiving limits: Minimum per message, $1; Maximum per message, $3,000; Maximum within seven days, $10,000

Transferring money to your bank: Minimum, $1; Maximum per transfer, $3,000; Maximum within seven days, $20,000

Where Can You Pay with Apple Pay?

You can use Apple Pay to transfer money to and from family and friends, make purchases online, in app, and in store where the Apple Pay logo is displayed.

International Support

Apple Pay is supported in the U.S., Canada, Brazil, the United Arab Emirates, Australia, New Zealand, China, Singapore, Hong Kong, Taiwan, Japan, and in most countries in Europe.

Security

When you make a purchase, the app uses a device-specific number and a unique transaction code. With this method of payment, your actual card number is never stored on your device or on Apple servers. As well, when you make a payment, your card numbers are not shared with merchants.

Our Selection Methodology

We evaluated more than a dozen mobile payment apps. But since so many have limited functionality, we accepted only about half that we feel to be worth consideration.

While recognizing that there are many technical details and personal preferences that might go into making a decision to choose one mobile payment app over another, in preparing our list we’ve focused on the most basic services and parameters provided by each.

Our list of evaluation criteria includes the following for each mobile payment app:

• Operating system support (iOS and/or Android)
• Fees connected with the service
• Device support
• Payment amount limits
• Where the app can be used (purchases and cash access as well as personal transfers)
• International support and availability
• App security

Final Thoughts on the Best Mobile Payment Apps

In doing your own analysis on mobile payment apps, you’ll certainly want to consider the features that are most important to you. But it’s becoming increasingly important to choose one. As mobile payment methods become increasingly common, and the gradual move toward a cashless society picks up steam, having an app you’re comfortable with will make it all a stress-free transition.

We feel these are some of the best mobile payment apps available. Pick a couple, and do a deep research dive on your own. You’ll find one will be the right fit for you.