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What is Mobile Payment Apps?

Mobile payment apps is a vast term that includes payments made at restaurants with your phone, a card swiped on a friend’s tablet, and money transfers made with your mobile device to your contacts. Mobile payment apps include everyday transactions made with an app or mobile wallet, point of sale payments done by tapping your phone on the card reader, closed-loop mobile payments facilitated by companies like Starbucks for faster ordering, carrier payments facilitated by your cell phone company, and mobile card readers that you can plug into your tablet or phone to accept payments on the go. Show moreYou can download a mobile payment app to make payments and top phones nowadays come with a built-in mobile payment feature. Start by checking our leader Square, and other recommended solutions in this category.Show less

How was this ranking made?

In order to create this ranking of best Mobile Payment Apps we have analyzed popular applications currently present on the market, comparing their features, ease of implementation, customer service, offered integrations with other systems and mobile device support using our unique SmartScoreTM rating system. This list has been prepared by Nestor Gilbert, our B2B authority dedicated to the Mobile Payment Apps category.

List of Top 12 Mobile Payment Apps

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1. Square

Our score: 9.0 User satisfaction: 97%

A reliable mobile payment system designed to help retail businesses and restaurants accept payments more securely, easily, and quickly. It’s a flexible solution that lets you accept card payments the way you want on phones, tablets, PCs, or the web.

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2. Apple Pay

Our score: 9.9 User satisfaction: 97%

A game-changing mobile payment system that delivers an exceptional shopping experience to Apple device users. It is an intuitive platform that lets consumers make fast and secure payments on the web, in apps, and in-store, wherever they buy goods or services.

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3. QuickBooks GoPayment

Our score: 9.6 User satisfaction: 81%

A robust mobile payment app and credit card reader designed by QuickBooks to help businesses accept payments anytime, anywhere. QuickBooks GoPayment allows you to accept all major debit and credit cards, and also functions as a mobile wallet for the consumers.

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4. PayPal Payments Pro

Our score: 9.5 User satisfaction: 99%

PayPal Payments Pro integrates merchant accounts and payment gateways into a unified solution, enabling users to process payments easily. It's built on PayPal’s technology that can handle credit card, mobile, and retail card payments. What’s more, it doesn’t require buyers to have a PayPal account.

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5. Adyen

Our score: 9.2 User satisfaction: 90%

An all-in-one payments platform that provides flexible features to help businesses deliver seamless payment experiences. It helps unify commerce customer journeys and accept payments on mobile and at the point of sale. It also supports global payments, which is an excellent feature for businesses that want to expand globally.

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6. Venmo

Our score: 9.1 User satisfaction: 87%

A PayPal-owned payments app designed to simplify the digital payment experience for users. Businesses can tap into the capability of this app and allow customers to quickly check out on the web, app, or mobile device. Millions of consumers use this digital wallet to make and share payments.

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7. Sage Payment Solutions

Our score: 9.0 User satisfaction: 100%

A scalable payment processing solution for businesses of different sizes and types. Sage Payment Solutions makes it a breeze to accept and make payments, anytime, anywhere. It also integrates with Sage accounting products to help manage all your money from one system.

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8. Uphold

Our score: 8.9 User satisfaction: 85%

A strongly secure and compliant multi-assets currency storage, exchange, and transaction platform that enables users to trade between national currencies, cryptos, and more. It operates in more than 35 countries and accepts 27 national currencies, 30 cryptocurrencies, and up to 4 metals.

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9. Revel Systems POS

Our score: 8.7 User satisfaction: 98%

A powerful point-of-sale tool for the food and retail industries. It offers an extensive range of sales management tools that can be accessed via its Revel Assistant tool, a smart Management Console. Its other features include kitchen management, product management, menu building, and employee management.

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10. Lightspeed Retail

Our score: 8.4 User satisfaction: 98%

An innovative POS solution designed to help businesses sell more efficiently and process payments with ease to improve customer experience and grow their bottom line. Lightspeed Payments provides all the tools you need to offer a fast, secure, and consistent checkout experience, whether in-store or online.

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11. AAZZUR

Our score: 8.0 User satisfaction: N/A

An innovative mobile banking application that connects banks and fintechs with each other to deliver more improved mobile banking experiences.

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12. Invoice2go

Our score: 8.6 User satisfaction: 91%

Invoice2go is an online service that offers mobile apps for iOS and Android devices to enable you to issue invoices on the go.

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In the event you didn't find just the solution you were looking for here's a list of various categories similar to Mobile Payment Apps that you might want to browse through:

Mobile Payment Apps Guide

Table of contents

Industry Report - Mobile Payment Apps for 2022

CloudRank™ system is a unique algorithm that our research team uses to evaluate Mobile Payment Apps solutions in a detailed and accurate way. The Spring 2022 edition of the ranking was prepared by Nestor Gilbert, our leading expert in the field of Mobile Payment Apps, who has authored 1380+ product reviews in this category. The goal of CloudRank™ is to present an unbiased, multi-layered perspective on Mobile Payment Apps, considering a wide range of metrics and factors, and educating potential customers about both opportunities and challenges associated with each piece of software.

In order to achieve full objectivity the position in our CloudRank™ is based on:

  • Expert Score: which involves extensive analysis by our internal team which carefully examined all key elements of each software and testing it in real-life situations
  • User Score: which involves an aggregated opinion of actual users of each product whose identity was properly verified
  • Market Position: which involves general recognition of a given vendor on the market and reflects its overall popularity and reach
What do the tiers in CloudRank™ mean?

What do the tiers in CloudRank™ mean?

We’ve calculated a score for each product based on the average experience shared by our users in their product reviews and arranged the list in three tiers. You can see the methodology below on how the calculations were made.

  • Leaders: those with a User Score of 8 or higher; this tier includes products that are currently leaders on the market and are appreciated by both experts and actual users. They always represent the best of what the Mobile Payment Apps market has to offer and are all worth trying out if you’re looking for a reliable solution.
  • Contenders: those with a User Score between 7 and 8; this tier includes high-quality products that still have some minor drawbacks that prevent them from becoming leaders on the market. They always represent well-designed tools that, over time, will most likely develop into market leaders as the missing features are added.
  • Rising Stars: those with a User Score between 6 and 7; this tier includes products that have high-potential but still lack some crucial features or services expected from a leading solution. They are products with solid foundations and a vision that makes us eager to see what they will become as their solution improves in the future.

Regardless of their tier, all products included in our CloudRank™ are popular, quality products considered top-performers by our team of experts. Make sure you read a more detailed review of each solution to find one that will work best for your specific needs and budget.

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Rising Star
Contenders
Front-Runners

MARKET POSITION

A score between 1 and 10 based on popularity and market reach of each product.

TOTAL score

A score between 1 and 10 based on the average of our Expert Score and User Score.

How does CloudRank™ work?

Arrow top

Market Position

A score between 1 and 10 based on popularity and market reach of each product.

Arrow right

Total Score

A score between 1 and 10 based on the average of our Expert Score and User Score.

CloudRank™ tier

Based on product's total score.

Rising Star

Contender

Front Runners

21 Most Popular Mobile Payment Apps

Here is a list of all 21 Mobile Payment Apps solutions evaluated with our CloudRank™ analysis. We have compared their features, user satisfaction, market presence and other key factors in an in-depth analysis you can find below:

1. Stripe

8.84
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.84
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Reporting

%

Virtual receipts

%

Multi-device accounts

%
Worst features

2. Square

8.80
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.80
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Virtual receipts

%

Loyalty programs

%

Reporting

%

Bar codes

%

Advanced fraud protection

%
Worst features

Digital coupons

%

Product description

%

Offline transactions

%

Tax and tip

%

3. PayPal

8.75
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.75
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Virtual receipts

%

Fingerprint ID

%

Loyalty programs

%

Passcode security

%
Worst features

Location-aware services

%

Reporting

%

4. PayPal Zettle

8.21
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.21
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Location-aware services

%

Reporting

%

Fingerprint ID

%

Tax and tip

%
Worst features

Virtual receipts

%

Passcode security

%

5. Lightspeed Retail

8.12
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.12
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Bar codes

%

Virtual receipts

%

Reporting

%

Product description

%

Digital coupons

%
Worst features

Loyalty programs

%

6. Venmo

8.05
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:8.05
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Fingerprint ID

%

Reporting

%

Passcode security

%

Tax and tip

%

Virtual receipts

%
Worst features

7. Payoneer

7.88
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.88
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Fingerprint ID

%

Passcode security

%

Virtual receipts

%

Location-aware services

%
Worst features

Reporting

%

Digital coupons

%

8. Authorize.Net

7.87
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.87
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Digital coupons

%

Virtual receipts

%

Product description

%

Reporting

%
Worst features

Tax and tip

%

Bar codes

%

9. BlueSnap

7.68
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.68
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Digital coupons

%

Passcode security

%

Reporting

%

Virtual receipts

%
Worst features

10. Adyen

7.62
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.62
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Virtual receipts

%

Digital coupons

%

Passcode security

%

Reporting

%
Worst features

11. Apple Pay

7.62
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.62
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Location-aware services

%

Reporting

%

Virtual receipts

%

Fingerprint ID

%
Worst features

Digital coupons

%

Passcode security

%

Loyalty programs

%

Tax and tip

%

12. PayU

7.35
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.35
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Location-aware services

%

Virtual receipts

%

Reporting

%

Offline transactions

%
Worst features

13. 2Checkout

7.28
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.28
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Product description

%

Reporting

%

Digital coupons

%

Tax and tip

%

Location-aware services

%
Worst features

Virtual receipts

%

Advanced fraud protection

%

14. Braintree

7.15
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.15
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Passcode security

%

Reporting

%

Advanced fraud protection

%

Virtual receipts

%
Worst features

15. WePay

7.15
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.15
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Offline transactions

%

Passcode security

%

Fingerprint ID

%

Reporting

%
Worst features

Virtual receipts

%

16. SecurionPay

7.10
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:7.10
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Reporting

%

Advanced fraud protection

%

Virtual receipts

%
Worst features

17. PayJunction

6.89
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:6.89
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Bar codes

%

Product description

%

Virtual receipts

%

Reporting

%

Offline transactions

%
Worst features

Advanced fraud protection

%

18. Dwolla

6.88
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:6.88
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Reporting

%

Virtual receipts

%

Digital coupons

%
Worst features

19. WorldPay

6.61
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:6.61
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Digital coupons

%

Reporting

%

Virtual receipts

%
Worst features

20. Paysafe

6.37
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:6.37
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Advanced fraud protection

%

Virtual receipts

%

Digital coupons

%

Reporting

%

Product description

%
Worst features

Bar codes

%

21. MoonClerk

6.22
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Our score and features analysis:

Total User Satisfaction

Total Expert Score

Market Position

} CloudRank™
Score:6.22
Customers company size

No. of employees:

1-10 11-50 51-100 100+
Best features

Reporting

%

Bar codes

%

Digital coupons

%

Product description

%

Virtual receipts

%
Worst features

Advanced fraud protection

%

Our report covered 21 most popular products from the Mobile Payment Apps category. We’ve analyzed their features, performance, integration, customer support, pricing, and several other key buying factors and combined it with feedback from user reviews to come up with the current list of best solutions:

Leading this year’s CloudRank for Mobile Payment Systems is Stripe, a unified platform of an integrated suite of payment products. This widely-used payment solution is packed with a set of smart tools and APIs to build websites and apps for sending payments and accepting payouts. Companies and businesses rely on Stripe as a payment infrastructure to handle payments, financial services, and business operations.

Stripe goes beyond payments. Its robust product set includes a prebuilt payments page, customizable payment UIs, spend management and card creation, fraud & risk management, as well as, online identity identification and accounting automation. Apart from the standard payments and payouts use case, Stripe can manage recurring billing, facilitate creator payments globally, and enable payments for crypto businesses. Stripe has support for more than 135 currencies, Integrations with third-party applications make Stripe fully extensible and ready to address business problems. Stripe has a powerful and easy-to-use API with client and server libraries of tools for every tech stack. Server reliability is rated 99.99% up and certified to the highest compliance standard.

The payments platform has a technology-first approach to payments and finance and consulting and technology partnerships from renowned brands such as Shopify, IBM, Salesforce, and Amazon Web Services. Expertise from Stripe partners reduces deployment time and helps accelerate global expansion. Customer success stories abound from small businesses to Fortune 500 companies to non-profits. Stripe has processed hundreds of billions of dollars in 150 countries.

Most users of Mobile Payment Apps solutions confirm that in most cases these tools allow them to reach the following business goals:

  • It enables us to integrate loyalty and rewards programs. [ 85.0% of users ]
  • It helps to boost our cash flow. [ 88.0% of users ]
  • It improves customer convenience. [ 90.0% of users ]
  • It provides access to actionable insights. [ 84.0% of users ]
  • It reduces our expenses. [ 86.0% of users ]

How did we select products for this Mobile Payment Apps report?

The Spring 2022 version of the report includes a total of 21 Mobile Payment Apps products that were compared and analyzed by our team. We selected them based on the following factors:

  • Popularity of a given brand in the SaaS market (based on our own market research)
  • How popular a given brand is among FinancesOnline users (based on number of mothly readers for each review page)
  • Availability of statistical data generated from user reviews of a particular product (we excluded products with not enough data to draw meaningful conclusions)
  • The current listing reflects the state of our database and research as of May 2022. An updated version of the report will be released quarterly to keep data fresh and incorporate information about shifts and changing trends in the market.

What are the current Mobile Payment Apps trends?

Biometric Authentication

According to a recent Statista survey, biometric authentication such as fingerprint recognition, eye scan as well as facial recognition ranked third as the most trustworthy methods of payment in the US in 2019. It also eliminates the need for customers to whip out their cards whenever they enter into a transaction. Thus, reducing the risk of fraud and identity theft.

Source: Statista Survey

Mobile Point-of-Sale Technology

MPOS is a trend to watch out for in the coming years and is mainly used by merchants to easily and quickly set up shop almost anywhere and accept a card payment from a shopper. According to a study in 2019, as much as 73% of shoppers want advanced technology for more checkout choices such as MPOS for convenience.

Source: Statista Survey

Integration with Neobanks

Neobanks are digital banks that offer internet-only financial services through their mobile apps and lack physical branches. This type of banking appeals to those who are technologically savvy and are getting more popular in countries that already have the necessary regulations to govern such digital banks such as those in Europe. In the coming years, we will see a rise in mobile payment systems capable of seamlessly integrating with neobanks.

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Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)

Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)
Atombank: 471

Atombank

Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)
Revolut: 336

Revolut

Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)
Monzo: 250.5

Monzo

Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)
N26: 213.5

N26

Value of Funding at Selected Neobanks and Challenger Banks in Europe in 2018 (in Million USD)
Starling Bank: 190.1

Starling Bank

Source: RFS

Designed by

Whether you’re selling online, in person, or on the go, mobile payment apps can help you process nearly any kind of payment in any way you want at any given time. For consumers and businesses, these tools provide a fast, secure, and convenient way to facilitate online payments. On top of that, mobile payment apps can help you boost financial security and reduce inherent risks of cash handling, such as theft, loss, or fraud.

To help you choose the best mobile payment app for your business, we prepared this buyer’s guide of online payment apps that discusses all the details you need to consider before investing in one. In the following sections, we detail the main features and factors that you should look for in a mobile payment application.

Get to know each product with free trial

Mobile payment apps allow you to streamline payment processes, such as generating invoices, paying bills, and online banking. To begin your search for the best mobile payment tools, you can sign up for free trials or demos offered by some of the leading applications in the marketplace. This includes Lightspeed Retail, Apple Pay, QuickBooks GoPayment, PayPal Payments Pro, and Square. These applications all have high rankings and satisfactory feedback on our mobile payment app reviews.

Targeted Businesses

Mobile payment apps are used by a variety of businesses, whether small, medium, or large-scale organizations. With the capability of mobile payment apps to simplify online payment processes, freelancers also find the best payment apps as a safe and convenient way of getting paid by customers and settling their bills online.

Examples of Mobile Payment Apps

  1. Lightspeed Retail. One of the most popular payment apps, Lightspeed Retail is an all-in-one digital payment solution. It offers a fast, secure, integrated payment system to help you process sales and get paid on time.
  2. Apple Pay. A mobile payment app and digital wallet that replaces your cash and physical cards with an easier, safer, more secure payment method. It helps you process online payments, whether you have an online store or sending money to friends and family.
  3. QuickBooks GoPayment. Hailed as one of the most trusted apps for online payment, QuickBooks GoPayment makes mobile payments fast and flexible. It allows you to accept mobile payments and make your transactions fast and convenient for your customers.
  4. PayPal Payments Pro. A completely customizable mobile payment solution that allows you to streamline the checkout experience for your customers. It also provides a variety of financial reports to help you manage your cash flow, including your customers’ transaction status and settlement.
  5. Square. A reliable and fast POS system that lets you take payments using your iOS or Android devices. The solution also allows you to manage inventory, organize digital receipts, and generate sales reports.

Types of Mobile Payment Apps

Mobile payments have become an increasingly popular way for merchants to accept online and in-person payments using their mobile devices. Basically, there are four main types of mobile payment apps:

  • Mobile wallets. Mobile wallets leverage QR codes and Near Field Communication (NFC) technologies that enable your customers to make in-app purchases and settle payments on web and card terminals. By storing credit card numbers, loyalty card numbers, and debit card numbers, mobile wallets provide your customers with a seamless payment experience.
  • SMS payments. Through text messaging services, SMS payment systems allow you to generate invoices and settle payments. Your customers can simply enter their payment information and approve payments for recurring services or single transactions through SMS.
  • NFC payments. NFC technology uses radio frequency identification to transfer data from one device to another. In countries like Japan, China, and France, NFC technology is widely used to make payments and purchases.

Key Features of Mobile Payment Apps

  1. Multi-device accounts. Mobile payment apps support multiple devices, allowing you to accept payments from your customers regardless of the device that you are using.
  2. Offline transactions. Some mobile payment applications allow you to process payments and access transaction records even if you do not have a Wi-Fi signal. These systems allow you to store offline data and complete transactions when network access is available.
  3. Tax and compliance. This is an essential feature that allows you to tax your customers for their purchases. It automatically adds a tax rate to your products or services based on your GPS location and your area’s tax code.
  4. Security. A good mobile payment app should have sophisticated security to ensure safe and secure transactions for your customers. By leveraging state-of-the-art security features, mobile payment apps make sure that your financial data are protected from any kind of theft and fraud.
  5. Financial reporting. With this feature, you can generate real-time transaction reports and get a complete picture of your store’s financial health and performance.
  6. Instant payments. One of the best features of mobile payment apps is their ability to make payments fast and secure. This feature also allows you to deliver a seamless payment experience for your customers.

Benefits of Mobile Payment Apps

  1. More convenient for customers. With mobile payment apps, you can make the whole online buying experience more effortless and convenient for your customers. These applications allow your customers to make payments from anywhere and at any given time.
  2. Saved costs. Implementing mobile payment apps can save you the cost accompanied by buying costly point-of-sale machines and credit card terminals. Enabling your customers to pay through mobile payment apps also helps you improve sales and increase customer loyalty.
  3. Accurate financial records. Mobile payment applications provide detailed reports about all your transactions, as well as your company’s financial health and performance. It also gives you access to customer data such as their preferred payment method, the amount they usually spend at your store, and the number of times that they visit your site and buy your products. This data can help you better understand customer demands and give you valuable insights into customer behavior.
  4. Boost loyalty and incentive programs. Most mobile payment apps have the capability to integrate loyalty and incentive programs, enabling you to provide discounts and rewards to a loyal customer base. All your customers’ information is stored in mobile payment apps, making it easier for you to link a payment to their existing points or other loyalty programs that they are shortlisted for.
  • Rise of contactless payments. The COVID-19 pandemic greatly accelerated the rise of contactless payments. In 2020 alone, contactless payments increased by 12% according to a report by Fintech Magazine. This is spurred by consumers looking to mitigate the risk of spreading the virus by using cash and physical cards.
  • Increased demand for mobile POS. Mobile POS systems are also becoming popular among small businesses and retail store owners. With mobile POS machines, retailers can easily take payments in a more simple, convenient, and secure manner.

Potential Issues

  • Hidden charges. Mobile payment apps are definitely a more cost-effective option compared to other costly POS machines. However, some mobile payment apps require additional charges per transaction, which can add up and cost you a huge sum of money in the long term. Therefore, before picking a program from a list of payment apps, make sure to read the vendor’s terms for their system’s processing fees so you know exactly how much it will cost you to accept mobile payments.
  • Outdated technology. Unlike conventional POS systems, mobile payment applications leverage a more sophisticated technology. However, you might come across some systems that require an update in their infrastructure and installation of new hardware, such as terminals or phones that support NFC technology.

How Do Mobile Payments apps Work?

It’s simple. Mobile payment apps leverage near-field communication (NFC) technology to work. Typically, when mobile devices and payment terminals are close together, they communicate wirelessly to complete the transaction. Essentially, when the two devices are two inches close to each other they pass encrypted information using a specific radio frequency to get the transaction rolling. 

What is a Mobile Wallet?

A mobile wallet is simply a digital wallet that is accessible via a mobile app. The app provides a secure channel to add or update bank details linked to a debit or credit card. Once the details are authenticated, you’ll no longer require physical cards to make payments. You simply authorize the payment on your phone at the point of sale system to complete the transaction. 

List of Mobile Payment Apps Companies

Order by:

Newest
  • Newest
  • Score
  • User Score
Product name:
Category:
Smart Score:
Price:
User Satisf.
User reviews:
TraQPayments reviews

TraQPayments

Mobile Payment Apps
8.0
INR 199
93%
ChargeOn reviews

ChargeOn

Mobile Payment Apps
8.0
Free
96%
Wallet Factory reviews

Wallet Factory

Mobile Payment Apps
8.0
By quote
94%
Digipay.guru reviews

Digipay.guru

Mobile Payment Apps
8.1
By quote
98%
Novopay reviews

Novopay

Mobile Payment Apps
8.0
By quote
79%
AAZZUR reviews

AAZZUR

Mobile Payment Apps
8.0
By quote
-
RPay reviews

RPay

Mobile Payment Apps
8.0
By quote
-
SwipeSum reviews

SwipeSum

Mobile Payment Apps
8.0
$100
-
FinX Mobile Money Suite reviews

FinX Mobile Money Suite

Mobile Payment Apps
8.0
By quote
-
4Pay Networks Payments reviews

4Pay Networks Payments

Mobile Payment Apps
8.0
By quote
-
PhonePe reviews

PhonePe

Mobile Payment Apps
8.2
₹1 lakh
95%
PayPal Here reviews

PayPal Here

Mobile Payment Apps
9.8
$0.15
98%
Payline reviews

Payline

Mobile Payment Apps
8.0
15€
99%
MANGOPAY reviews

MANGOPAY

Mobile Payment Apps
8.5
€0.18
97%
Inner Fence reviews

Inner Fence

Mobile Payment Apps
7.7
$25
93%

Things to consider when you invest in a SaaS

Picking a an appropriate SaaS product from the numerous good quality platforms out there can be a difficult task. To assist you, we have created this quick briefing. Find out if the SaaS vendor offers the following advantages:

Reduced Cost: Most SaaS apps are pay as you go, and you don’t have to worry about extra expenses for system maintenance or IT resources, upfront licensing fees, or in-house IT staff.

Fast Set-up Time and Minimized Risk: You should be able to deploy the SaaS solution quickly and easily. Make use of the free trial to learn if the platform fits your requirements. If you choose a wrong program, you can bail out easily with minimum losses.

Customization and Integration: Select a vendor that offers a wide variety of software packages and modules. You should be able to pay only for the features you use to meet the current requirements of your company.

Security and Control: The solution should provide robust security. Select a provider whose databanks are more secure than those in your office to maximize the gains.

The Infrastructure: The provider should offer the required infrastructure so that you need not host anything in-house or need the support of internal IT resources.

Web Access: Your employees should be able to access data anywhere, anytime. To assist them be industrious on the go, choose a vendor that offers mobile apps that are compatible with leading operating systems.

Consider all the six important aspects mentioned above to choose the perfect program for your requirements.

Frequently asked questions about Mobile Payment Apps

What is the best mobile payment app?

The best mobile paymentapp is Lightspeed Retail. It is a comprehensive POS platform widely used by different types of retailers, including footwear, pet stores, apparel, and home decoration. It provides a wide range of mobile payment features and functionalities designed to help you deliver a seamless payment experience for your customers. From price quotations and invoicing to inventory management, Lightspeed Retail has all the essential tools you need to simplify payment processes and manage your physical or online shops.

Lightspeed Retail is also known for its automated payments which speed up checkout processes for your customers. With its integrated accounting tools, the solution simplifies bookkeeping and accounting tasks. On top of those, Lightspeed Retail brings you detailed financial reports to help you manage and monitor your company’s cash flow.

What are the benefits of mobile payment apps?

Merchants from all over the world are beginning to recognize the advantages of using mobile payment apps. Regardless of the type of business that you have, you can benefit from mobile payment applications in the following ways:

  • Improved cash flow. Mobile payment apps allow you to improve your cash flow by providing your customers with a faster method to process their payments. Since there are now a growing number of customers who prefer contactless payments over cash, mobile payments can help you increase your sales and get paid more quickly.
  • Reduced expenses. Compared to traditional POS systems, mobile payment applications no longer require you to purchase expensive hardware and equipment before you can start accepting payments from your customers. By simply using a card reader or an application, you can easily turn your own mobile device into a payment system for your business.
  • Convenience for customers. The focal point of using mobile payment apps is to provide customers with a more convenient way to settle their outstanding payments. With these programs, you can easily accept payments wherever and whenever the customer prefers. In this way, you can increase conversions and potentially turn first-time customers into loyal brand advocates.
What are the features of mobile payment apps?

Before deciding on the best mobile payment app for your business, you need to consider what each program offers and how it can benefit your organization. Here are some of the most important features to consider in mobile online payment apps:

  • Contactless payments. Digital wallets, as well as NFC and QR code payments, make it easier for your customers to complete their transactions with you. Contactless payments also mean shorter queues at your checkout counter and a more reliable and safer way of facilitating payments.
  • Security. A mobile payment app that is packed with powerful security capabilities ensures that all your financial data are safe from potential breaches and fraud. Leveraging security features such as biometrics, security questions, passwords, point-to-point encryption, and so on can make sure that your money transactions are safe from end to end.
  • Self-registration. This is a one-time procedure that your customers should find easy and fast to accomplish. A mobile payment app with self-registration features allows your customers to simply download the app, sign up by providing the required details about their personal information, and link their debit or credit card to their accounts.
  • Payments to and from Bank Accounts. Mobile payment systems let you send and receive personal or business money with just a few clicks. It allows a seamless money transfer to any bank so your customers can easily send their payments over to your account.
What is the easiest mobile payment app to use?

Some of the easiest mobile payment apps to use include the following:

  • Lightspeed Retail. Packed with user-friendly features, Lightspeed Retail leverages modern technologies to simplify payment processes for different kinds of businesses. It also comes with a plethora of tools to help you manage inventory and employee and customer relationships.
  • Apple Pay. This is another mobile payment app that is fast and easy to use. It works seamlessly on Apple devices and allows you to make payments from anywhere in the world at any given time. Apple Pay is also known for its capability to send and receive money from friends and family with unprecedented ease.
  • QuickBooks GoPayments. Designed to make the reconciliation of invoices and payments more seamless, Quickbooks GoPayments allows you to process cash, card, and check payments on the go through your own mobile device. The solution also allows you to send personalized payment reminders and invoices to your customers.
What is a good free mobile payment app?

Apple Pay is a good free mobile payment app that doesn’t charge fees for business owners. The solution supports Apple devices and allows your customers to pay for their purchased products or services, whether in-app, on the web, or in physical stores. It provides a secure and convenient way to send and receive payments via iOS apps, making it easier for customers to provide their payment, shipping, and contact information to check out and complete their transactions.

Additionally, ApplePay offers an express checkout tool that enables customers to complete their purchases from your product site with a single tap. This makes the checkout experience more seamless and convenient for your customers, which can lead to increased sales and conversion rates. Apple Pay also offers powerful security features to keep your financial transactions safe and secure at all times.

Nestor Gilbert

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.

Updated

Why is FinancesOnline free? Why is FinancesOnline free?

FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.

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