P2P Payment Service
The comparison pitted Apple Pay Cash against Zelle, Square Cash, Venmo, and Facebook payments. The criteria were security, privacy, customer support, and access. Zelle, a service used by around 150 U.S. banks and credit unions, received the lowest score because of data security and privacy.
The Zelle mobile service was rated, not the version that you might use from your bank’s website or app. However, Zelle did rate high when it came to customer support. And when Zelle was contacted for this report, it announced changes were coming to improve the app.
According to eMarketer, a market research company, an estimated 79 million Americans will use a P2P payment service this year. This is an increase from 24% last year.