The name of the game these days is social distance. So how do you accept payments from customers without getting closer than six feet or having to handle cash? Digital wallets are financial accounts that allow users to store funds, make transactions, and track payment histories by computer or phone. Here are some of the most popular options that will allow you to take payments without having to get a credit card reader (and some that connect with Square). 

1. Venmo

   Venmo is a free digital wallet app that allows you to send or receive money easily. You link your bank account or debit or credit card to begin sending or receiving money. On the app you will create a username that your customers can use to find you. You can also be found by email or phone number if selected in settings. Once money has been sent by customers, Venmo will then hold the money in your profile until you transfer the money into your bank account. All payments are tracked and can be seen on the Venmo homepage. NOTE:  All transactions can be seen on the universal tab of the app until the privacy settings are updated to “Private.” 

   Fees: $0 if linked to your bank account, 3% if linked to your credit card 

   Website: https://venmo.com/

2. PayPal

   PayPal is a secure way to send or receive payments. You can link bank accounts, debit cards, and credit cards to your PayPal account to transfer money. Using PayPal allows customers to pay with PayPal, Venmo, and major credit and debit cards. PayPal also gives the ability to both send and request money from a name, email, or phone number. You can also track and send invoices through PayPal. 

   Fees: 2.7% fee per card swipe sale, 3.5% + $0.15 for keyed-in sale, 2.9% + $0.30 fee per transaction for online payments. 

   Website: https://www.paypal.com/us/home

3. Facebook Pay

   Facebook Pay is a way to make payments on Facebook. You enter your payment account information once and then use Facebook Pay. Simply link a PayPal account, credit or debit card to send and receive money. Facebook Pay is integrated with Facebook and Facebook Messenger.  You can easily track your payment history through Facebook Pay.  Fraud detection and personalized PIN for your device work together to prevent unauthorized transactions. You must have an active Facebook account to use Facebook Pay. 

   Fees: None

   Website:  https://pay.facebook.com/

4. Apple Pay

   Apple Pay allows you to send and receive money with Apple users. Received money is kept in Apple Cash until transferring to your bank account or debit card associated with your account. Add a bank account, credit, or debit card to your Apple Wallet to choose from when making a payment.  Apple Pay can also be used through Square software with the contactless payment method, meaning customers can hold their device near the payment reader to pay. To accept these payments, you must have a contactless card reader which can be purchased and used with Square Software.

   Fees: 1% fee for instant transfer to a debit card

   Website: https://www.apple.com/apple-pay/

   Square Contactless/Chip Reader: https://squareup.com/us/en/hardware/contactless-chip-reader

5. Google Pay

Google Pay is a way to pay online, in apps, and in stores using the cards saved to your associated Google Account. Google Pay may also be downloaded in the Apple App store making it accessible for both Apple and Google phone users. You can send or request money with an associated name, email address, or phone number. Google Pay is also accepted in stores through the contactless payment method. To accept these payments, you must have a contactless card reader which can be purchased and used with Square Software. 

Fees:  None

Website: https://pay.google.com/about/

Square Contactless/Chip Reader: https://squareup.com/us/en/hardware/contactless-chip-reader

These are some options to help you if you want to offer non-cash payment options. Using one of these digital wallet apps can make accepting payments from customers who pre-order or come to the market much easier. If you would like assistance in determining if one of these apps fits your business and customers, let us know. You can reach us at 859-550-3972 or via email at kcard@kcard.info.