Cash apps are becoming more and more popular among consumers. What started as a way to pay a friend back for that pizza they bought you has blossomed into a huge industry of customers who want to pay for your goods and services using their favorite payment app.
As a business owner, you can capture these payment app sales in one of two ways:
- By getting a credit card processing system or POS (point of sale) system that integrates with the most popular payment apps and digital wallets
- By installing a few popular payment apps on your phone
This article focuses on the second solution, recommending need-to-have apps for peer-to-peer (P2P) payment transactions. The one limitation of this second approach is that it’s most useful for small-business owners who are making payment transactions on their phone. It’s not a great solution for a brick-and-mortar business that needs a more permanent processing solution.