How To Save Money Using Peer to Peer Money Transfer Apps like Venmo & Cash App

Peer-to-Peer (P2P) services offer apps or app features that let you quickly and typically for free transmit money to other individuals by looking up their phone number, email address, or username. Compared to the less tech-savvy older generation, peer-to-peer apps have become extremely popular among young people, who are typically more budget conscious and put more trust in exchanging their financial data with third-party software. 

With a smartphone, you can shop from the comfort of your sofa, hold meetings, travel, pick up new skills, reserve tickets, and even send and receive money. The most popular P2P services are given below, with an overview of their operations and the perks they offer.

Cash App

Using the Cash App, people can send money using their Cash App balance, a linked bank account, a credit card, or a debit card. The app provides an optional debit card, known as a Cash Card, that enables users to spend money from their Cash App balance and obtain “cash boosts,” discounts for various vendors.

Here’s how to use it: Users register for an account and link a debit card, credit card, or bank account after downloading the Cash App to their smartphone or tablet. Once they’ve created their Cash App account, they’ll be able to purchase and sell bitcoin, send, request money from other Cash App users, and invest in stocks.


With the help of the Venmo app, users may pay money to one another using their linked bank accounts, Venmo balances, or credit cards. Although PayPal owns the service, it differs from PayPal’s peer-to-peer money transfer service in terms of functionality. One of the app’s most intriguing features is the free, optional debit card that Venmo offers lets users spend the money out of their Venmo account balance. 

Here’s how to use it: Create an account after downloading the Venmo app. The users can next credit their Venmo account by connecting a bank account or credit card, after which they can send, ask for, or accept money from other Venmo users. Some users may encounter an error while linking the bank with Venmo account. but it is resolvable, so no worries! 


A well-known payment service, PayPal, assists users with e-commerce, internet shopping, and personal money transfers. People can send money to each other through PayPal, a peer-to-peer money transfer service using a linked bank account, a debit card, or a credit card.

Here’s how to use it: PayPal offers a wide range of services, with online payment services for buyers and sellers being the most well-known. For registered customers, however, PayPal also provides P2P money transfers. After setting up a PayPal account, users can transfer and request money by typing in the recipient’s name, email address, or phone number, followed by the amount they wish to send or request.


Most of the country’s leading banks offer the Zelle service, enabling customers to transfer money to other Zelle users using their bank account or the Zelle app.

Here’s how to use it: Users can transfer or request money by providing another Zelle user’s verified email address or phone number after creating a Zelle account via their Bank or the Zelle app. The recipient must create a Zelle account if they want to receive or send money if they still need one.

Google Pay

Users of the Google Pay app can send and receive money using their digital wallets to make purchases and send money.

Here’s how to use it: Users of Android (android Lollipop 5.0 or higher) and Apple (running iOS 7 or higher) devices can download the Google Pay app. It enables sending money to one another and purchasing from retailers offering point-of-sale near-field communication readers. Customers must install the app, log in using a Google account, and link their payment and banking details. They will then have the ability to send money and make payments. Users of Google Pay can also divide expenses with one another for things like rent, utilities, and dining out, and the app offers math assistance.

Apple Pay Cash

With Apple Pay Cash, users may send and receive the money within the Messages app on more recent models of the iPhone, iPad, Apple Watch, and Mac.

Here’s how to use it: Users can send, request, and accept money from other users using Messages after enrolling in Apple Pay with a compatible Apple device and attaching a debit card to the Apple Wallet app.

Our Recommendations

Here is the summarized essence of the details above so that you can select a better choice as per your need:

Instant transfersZelle
For friend groupsVenmo
For the investorsCash App
Frequent online shoppingPayPal
Digital Wallet UsageGoogle Pay
For Apple UsersApple Pay Cash

Concluding Highlights

With the aid of peer-to-peer apps available, the peer-to-peer payment system serves as a mediator to facilitate the transfer of money from one person’s bank account to another as per the user’s needs and convenience. We suggest using these apps and making your payment procedure hassle-free!

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