In this fast growing dynamic digital world, smartphone brings all your needs at your fingertips. Mobile payment is one such thing that all the daily tasks that users demand of their smartphones.putting payments in the palm of Consumer’s hands makes the process easier than ever before Mobile payments enables fully digitalized transactions. It is a quick and safe way for your money transaction. This is due in part to consumers becoming increasingly adopting the technology, as well as more merchants having terminals that accept mobile payments. People are increasingly comfortable paying online.
Mobile payments provide a high level of convenience for users, but they also provide a necessary space for people wanting to process cashless payments. This is very helpful in businesses to transfer funds as cyber currencies and thereby benefits from the rise of cryptocurrency. Automated payments also save you the trouble of depositing the check and recording the payment manually. Once you set up online payments for your website, they are automatically processed.
With the advent of modern technology, there are plenty of great options for sending money to others. With different functions, pricing, details, and more to evaluate, choosing the best Mobile Payment. E-commerce apps are big business. There’s a huge market for currency transaction apps, and the competition is fierce. With tons of apps and features to choose from, it can be hard to know the best way to pay with your smartphone.
Here is a comparison between two different leading mobile payments apps.
Google Pay v/s PayPal.
|Initial release date||2015||1998|
|Compatibility||Android, ios, web||Android, ios, web|
|Methods of payment||Credit, debit, bank transfer||Credit, debit, bank transfer|
|Money transfer Fee||Free||Free|
|Withdrawal speed||Upto 1-3 business days||Upto 1-2 business days|
|Special features||Integration with other google services.||Paypal.me sharelinks|
Google Pay is as which is a digital wallet platform and online payment system developed by Google(2015) as Android Pay to power in-app and tap-to-pay purchases on mobile devices and available on Android, desktop browsers and on ios. Google reorganised Android Pay and Google wallet into a single service called Google Pay. It’s a cheapest service to send and receive money. Sending money via google pay is as simple as pressing on the option and entering your recipient’s email address/phone number. It took over the branding of Google Chrome’s autofill features. There is an ios version can connect your account to paypal and also compatible with most newer Android devices. No fees to use debit cards or to make bank transfers. Integration with other Google service is an advantage of this app. It can transfer almost as much money as digital Paypal, with the maximum amount per transaction set at $9,999 Google Pay can use only on terminals that accept contactless payments over NFC(Near Field Communication).
Instant money transaction, contactless payments, peer to peer transaction are possible via google Pay and also benefits to store gift cards, boarding passes, and online tickets. Some of google pay’s functionality is available on iphones. To unlock this App, you can use the finger- print or face ID as a part of secure access. On devices without fingerprint ID, Google pay is activated with a passcode.and doesn’t send the debit or credit cards with payment. This keeps customer’s payment information private, sending a one-time security code.
- Cheapest service
- Integration with other google services
- No debit card fee
- No bank transfer fee
- IOS version available
- Can connect to PayPal
- Limited functions are available to Apple users.
In this modern age, it is common to buy items online,possibly from a seller. Paypal is a safe, trusted and efficient way to purchase online from anyone. The Paypal is a service that enables you to pay, send money and accept payments and well- known for it’s best service. It is founded on1998 was a preferred digital wallet and payment provider for eBay transaction but nowadays mostly preferred payment method for online shopping. This payment system allows buyers to send money virtually, without involving personal checking debit cards or credit card numbers. You can pay by simply choosing paypal account , logging into your account and, confirming your payment There is only a few seconds take to send money and easier to use. Does charge fees to send from a credit and expensive if you don’t connect it to your bank account. It charges you,2.9% each time you send money from a debit or credit .It takes upto 5 days for completing money transactions and larger transaction amount is upto $10,000.There is no charges for fund transfer. A premium edition of it , “PayPal Payments Pro” gives you more control over the look and feel of your checkout page. The PayPal App is available online or at the ITunes App Store and Google Play Store. By installing this app, you are able to transfer money from your bank account to your paypal account, can deposit money in your account , transfer money from your own account to others account, transfer money from your Paypal account to your checking or savings account. PayPal Payments Pro offers a simple pricing scheme for their service that includes APIs, easy cart integration, online invoicing, and phone-based credit card payments.Don’t link your PayPal account to your bank.account, otherwise it’s money taken directly out of your bank account. Paypal online payment system, seems like an entirely secure method of sending and receiving funds as the company gives out security keys upon request.
- Easy to use
- Reliable than any other services
- Helpful for online vendors
- Paypal.me share link available
- Account privacy
- Instant transfer
- Accept PayPal payments
- Accept Visa, Mastercard and American Express
- Not fully optimized for in-store transaction
- More expensive, if you don’t connect with bank account