For any digital money transaction, simply hold the device near a contactless POS and simultaneously touch the Touch ID with your finger, which will serve as the passkey.Īpple Pay is unique compared to other payment apps because of its security mechanism called tokenization. You can perform digital money transactions between contactless payment terminals and any device where the Apple operating system runs.Īpple devices such as Apple Watch, iPhone 6, iPhone 6 Plus and iPad can use Apple Pay. NFC technology enables different devices to communicate. It uses Near Field Communication (NFC) for secure payments. Just like Google, Apple has come up with its own payment services app popularly known as Apple Pay. There are additional options to transfer money to bank accounts by entering the recipient’s account details such as account number and IFSC code.ĭownload the app at Google Play or Apple Store. Once you have successfully verified your phone number and bank account, simply select your contact to send money to.Ĭurrently, Google Pay doesn’t charge a fee. Google Pay has fused the best features of Google Wallet and Android Pay to offer online money transactions. Image Credit: Top 10 cash apps in the market 1. Cash apps are rapidly becoming the most preferred means to carry out digital transactions such as buying a product online, transferring money to someone else’s bank account, charging your cell phone, or even paying your home electricity bill.
Cash apps are mobile applications that allow an individual to perform electronic transactions – transferring money digitally with the aid of mobile devices.
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