As these last few months have shown us, the world is indeed changing and with it, we may need to change the way we exchange our money. Similar to how the credit card changed the way our money is exchanged, cash apps such as Zelle, Venmo, and Square are here to do the same. As a business owner, you should be aware of the diverse ways your customers are able to pay you!
The cash app that is right for you depends on the type of business you run. If you have a store front, then something like Square would be a good fit. You may have already paid with Square and not known it. Ever been in a coffee shop and swiped or tapped your card against a small white box that was connected to an iPad? Odds are that your transaction was completed using Square! Square can link directly to your banking accounts making for an easy and smooth transaction for both parties.
If you do not have a store front, then something like Zelle may be a better option. Zelle is directly built into participating banking websites and mobile apps. Both options allow for payments to be processed without the need for anything more than an email, phone number, or username to be exchanged. Zelle can be limited though, it does require your bank to be a participant. A few notable banks that participate are Frost, USAA, Bank of America, and Wells Fargo. Visit the Zelle website to find a full list of participating banks.
Each cash app has its benefits, as well as some fees and limitations regarding how much money can be exchanged during a time frame. Visit their websites to look and see what may be best for your business.
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