The Most Popular Peer-to-Peer Payment Applications

Whether you need to pay rent or split the cost of dinner, transferring funds has never been easier. Gone are the days of writing checks and mailing them to your family and friends. Today, you can send money in seconds with peer-to-peer (P2P) payment applications. In 2023, consumers will send approximately one trillion dollars using P2P applications.

At the end of the day, you still need to keep a tab on your cash inflows, outflows, and use an expense management tool. Our platform features an intuitive transaction tracker that lets you quickly see the money you have received on P2P payment applications and the money you have sent. Moreover, you can manage all credit cards in one place, including cards connected to P2P payment applications.

Here’s a look at the most popular P2P payment applications to send and request money:


The Arizona-based P2P digital payments company Zelle is one of the fast-growing in the industry, with more than 50,000 new users each day. Users access the Zelle network by installing the Zelle app or using Zelle’s integration on their mobile bank application. If you want to send money via Zelle, you need the recipient’s cell phone number or email address. Although Zelle doesn’t charge any fees, the company recommends checking with your financial institution. Some banks may charge a small transaction fee to send money with Zelle. Currently, you can only send domestic payments within the United States – the recipient cannot have a foreign bank account.


Venmo is inarguably one of the most popular P2P payment applications used by various demographics. The application is a digital wallet that uses advanced data encryption to secure users’ cardholder information. Venmo’s goal is to facilitate funds transfer between friends and family, enabling them to split utilities, meals, and everyday purchases. However, Venmo is much more than an application used to repay your friend – the P2P platform also targets business owners. Entrepreneurs can accept payments for goods and services in-person or online using Venmo. You can also use Venmo to purchase cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

Cash App

Released in 2013, Cash App is another P2P payment application that has clenched a sizeable market share in the United States and the United Kingdom. Cash App is very similar to Venmo in that you can send money instantly to anyone with a Cash App account. However, the P2P platform has added features since its inception, including a Visa debit card that enables users to make purchases using Google Pay and Apple Pay. The Visa debit card uses your Cash App balance, and you can spend up to $7,000 per day or $15,000 per month. Cash App also lets users purchase Bitcoin and stocks and receive direct deposit cash advances.

Apple Pay

If you have an iPhone or Apple Watch, you’re probably familiar with Apple Pay. This handy application lets you security add a credit or debit card to your wallet, make purchases at the point of sale (POS) terminals, and send or request money. According to Apple, 85 percent of retailers in the United States accept Apple Pay. No more swiping your card; Apple Pay is entirely contactless and lets you pay for goods or services in seconds.

Like Venmo and Cash App, Apple Pay makes it a breeze to pay back friends and family. You can send a payment request on your iPhone or Apple Watch through the messages app. Simply click on the Apple Pay button, enter the amount you’re requesting, and click “request.” Once you receive the money, you can transfer it to your bank account or keep it in your Apple Pay balance and spend it. Siri knows how to use Apple Pay, too. You can say, “Siri, send $10 to James.” After Siri hears your request, you’ll need to click on “Wallet” or “Apple Pay.”

Google Pay

Google Pay is an Apple Pay alternative for Android users. The application is similar to Apple Pay, but there are a few key differences, and it’s not quite as advanced. Google Pay enhances the speed at which you can make purchases online, both online and in-person. To begin using Google Pay, you first need to download the application in the Google Play store. Once you install the application, you can add debit and credit cards, a bank account, PayPal (United States), and PayNow (Singapore). Currently, Google only allows those with U.S. or Singaporean numbers and Android devices with Lollipop 5.0 and up to install the application.

The P2P application and digital wallet have a few advanced security features, such as fingerprint passwords, that make the application stand out amongst competing P2P platforms. You use the application to make contactless payments, send money to friends (the United States only), and automatically populate forms on Chrome when you’re purchasing something online. You can transfer funds from your Google Pay account to a bank account or a debit card. A bank account transfer is free and takes up to three days, while a debit card costs 1.5% or $0.31 (whichever is greater).


PayPal is one of the first P2P payment systems to hit the United States market. Today, PayPal operates in more than 200 countries and supports 25 currencies. PayPal lets you link your bank account, credit card, and debit card to make secure online payments. You can purchase online goods and services with PayPal and send money to friends and family. When you make a purchase or send funds, PayPal will use your account’s balance or debit your bank account (if you don’t have sufficient funds in your PayPal account).

Meta Messenger

Meta Messenger (formerly “Facebook Messenger”) offers a seamless way to send money to your Facebook friends. Sending money is easy – simply open the messenger application, create a chat with the person you want to send money to, and click the plus and dollar-sign icon. A screen will prompt you to enter how much you want to send. If you don’t have a payment method on file, you’ll need to connect a debit card or PayPal account by clicking on the “add debit card” button. Meta Messenger also lets you split payments amongst a friend group, and there’s no fee to request or send money using the application.

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