These are the 5 Most Common (And Most Popular) Money Transfer Apps of 2020

There’s nothing more convenient than taking care of would-be errands from the comfort of your couch. In 2020, there is no shortage of technology shared that allows us to make payments and transfer money on mobile or on a wifi-enabled device. No longer do tenants need to head to the leasing office in order to pay their rent — they can do it from their couch. Friends have an easier time breaking down bills at restaurants and nights out, able to request money from one another via one of the popular payment apps. 

Just a few short years ago, the way to get rid of debt between friends was cash. You’d grab a five dollar bill out of your wallet and hand that over. Tipping drivers for taxis – cash. Paying rent – cheque. If you’re out and about, it can be easy to get cash back, however the COVID-19 pandemic has changed our ability to do just that, which is why there’s been a rise in the downloads of payment apps like Paypal, Venmo, Zelle, Cash App, and more. In fact, 81% of American adults say they’ve used a payment app more during the pandemic than prior to (and they’d likely keep using them afterwards). 

But which of these apps is the most effective, safe, and well-known? For one thing, payment apps have different purposes and different uses — such as sending along small sums of money, or even larger payments. Knowing more about this technology means that when you do need to request money or send some, you’re going to be able to do just that. And, as another added bonus aside, it used to be super complicated to have your friends and family pay you back. This technology can help solve that issue, so let’s dive into the top five payment apps of 2020. 


According to the company themselves, Venmo is a “social” way of paying. It’s pretty on point though, because Venmo allows users to look at other transactions between their contacts. Venmo, at its core, is a nice and easy way to send money between two people. It’s also pretty useful for small businesses too, because the platform provides fraud protection as well as the ability to connect to your bank card or a credit card. 

Best for: small payments between friends (think splitting dinner, uber, and more). 

Apple Pay

Apple pay is the perfect payment app for iPhone lovers and die-hard Apple addicts. The ability to have an app on your phone that you can directly wave over the keypad of a register to pay in a bunch of stores, restaurants, and gas stations is super useful. Another functionality of Apple Pay is that you can send and receive payments via Messages. 

Best For: Apple and iOs addicts. 

Google Pay

Even though Google Pay is best for android users, anyone with the app can use it. Google, as a whole, is a bit of an ecosystem with tools for every occasion; spending money is no exception. Currently, there are no fees for using Google Pay, whether you’re requesting money or spending it. If you have a g-mail account, you already have access to Google Pay. 

Best For: hard-core Android and Google users. 


Known all over the world as the original digital wallet, Paypal is a different type of payment app in that it has a variety of uses and foreign transactions are permissible. Conversion of currencies will incur a fee from Paypal, but aside from that, there’s a 2.9% fixed fee for sending money from a credit card, debit card, or even a Paypal credit card. However, even though there’s a fee to convert currencies, Paypal doesn’t charge a fee from using your Paypal account or balance.

These accounts are great for businesses. 

Best For: Sending sums of money with less fees. Paypal allows users to send up to $60,000 from a verified account. 

Facebook Messenger

To be upfront, you need to use your bank account and debit card or Paypal to use Facebook Messenger’s payment functionality. That being said, it’s super easy to integrate your accounts with Facebook since a Facebook account is required for a ton of other apps. 

What’s more? Facebook Messenger doesn’t tack on fees to your transactions, whether you’re sending or receiving. 

Best For: Absolutely no fees on transactions within the app.