Consumer Reports' first ratings on mobile peer-to-peer payment services has Apple Pay Cash on top

Consumer Reports' first ratings on mobile peer-to-peer payment services has Apple Pay Cash on top
Consumer Reports is the non-profit organization that rates goods and services based on unbiased testing. Whenever a new technology surfaces, Consumer Reports eventually gets around to testing it. Case in point, the organization's first ever rankings of peer-to-peer mobile payment services which has just been released. These allow you to send or receive money to and from another person who uses the same service. According to research firm eMarketer, 79 million Americans are expected to use a peer-to-peer mobile payment service this year, up 24% from last year's figure.

The P2P services tested by Consumer Reports include Venmo, Square's Cash App, Facebook P2P Payments in Messenger, and Zelle. CR determined that all five were good enough to use, but it did have one name at the top of the list, Apple Pay Cash. The reason? Apple Pay Cash scored excellent or very good in important categories like Payment Authentication, Data Support and Data Privacy. With a score of 76, Apple Pay Cash beat out Venmo for the top spot; the latter was given a score of 69 by Consumer Reports.

The Zelle app, with a score of 50, was on the bottom of the rankings. Despite scoring very high in customer service, Consumer Reports is concerned that you will be needing to talk to that team after the app ranked poorly for data security and privacy.

It is interesting to note that Apple's score of 76 still leaves it below the 81 to 100 "excellent" range. That means that all of these firms have work to do to improve their peer-to-peer mobile payment systems.

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11 Comments

1. Rampage_Taco

Posts: 1060; Member since: Jan 17, 2017

I personally use Zelle, but not the standalone app. It's programmed into my bank app and its convenient when you need to pay others that have it. Also what I like about it is that my phone doesn't give me a notification every several days to set it up if I don't want it

3. torr310

Posts: 1659; Member since: Oct 27, 2011

I use Zelle as it's in the Chase mobile app. I haven't had any chance to try others but Zelle is very convenient to me.

11. Man_Utd

Posts: 185; Member since: Feb 03, 2015

I use Zelle as well. Looks like if you don't use the app, you're better off.

2. torr310

Posts: 1659; Member since: Oct 27, 2011

Apple should make their services available to Android platform so they could expand more quickly. I prefer Android but admire Apple's commitment to their products.

4. tedkord

Posts: 17356; Member since: Jun 17, 2009

What about PayPal? I've never used my of the others, so maybe there are differences. Why isn't PayPal included?

5. Dr.Phil

Posts: 2361; Member since: Feb 14, 2011

Venmo is owned by PayPal so it’s essentially the same thing.

7. tedkord

Posts: 17356; Member since: Jun 17, 2009

Gotcha. Thanks.

6. Landon

Posts: 1245; Member since: May 07, 2015

No love for Samsung Pay?

8. tedkord

Posts: 17356; Member since: Jun 17, 2009

Does it do peer to peer payments?

9. cmdacos

Posts: 4207; Member since: Nov 01, 2016

Nope.

10. tedkord

Posts: 17356; Member since: Jun 17, 2009

Didn't think so.

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