ExecutiveChronicles.com | 2021’s Best Mobile Payment Apps for Businesses | Technology has made it easier for businesses to complete several different tasks, saving them time and money. One of the most significant aspects of business that technology can improve is the payroll system.
Having a mobile payment option for employees is becoming more and more critical in this digital age of information. In fact, one of the biggest mobile payment apps, Paypal, has more than doubled its active accounts since 2015.
If you are interested in mobile payment apps, keep reading this guide and discover the best mobile payment apps of 2021 for your business.
One of the biggest and fastest-growing companies in the financial technology sector is Paypal. The mobile payment app has made its way into at least 80 percent of the top 500 websites consumers shop on.
With that amount of trust and support from big online retailers, businesses are begging to realize Paypal’s potential. It’s simple to sign up and connect your account to send payments. The company also offers an “instant” feature to send the payment instantly to your account for an additional fee.
Payactiv is a newer mobile payment app that is rapidly making a name for itself. Payactiv offers several features that have attracted over 2 million workers that are now using its services. These benefits include:
- Early paycheck deposits (up to 2 days)
- Financial counseling
- Discounts on prescriptions
By offering these additional benefits for its users, the payment app is innovating the financial industry.
Another popular option for businesses is to use the stripe mobile app payment for a convenient employee payment option. Stripe is a rapidly growing payment platform used by some of the most innovative companies like Instacart, Lyft, and Peleton.
They welcome businesses of all sizes and industries, making it easy and stressless to get employees paid their fair share. The company is expanding into the international market and innovating financial markets around the globe.
Many of Stripe’s biggest customers, such as Instacard, Peleton, Zoom, and Slack, saw massive increases in demand for their services during the pandemic, with the mobile payment app handling it well.
Just like other services on this list, the Apple mobile payment app allows you to send and receive money directly from your phone. When a business sends its employees money through its mobile app, it gets delivered straight to their apple wallet linked to their phone.
This can make it easy for employees to manage their money and easy for businesses to transfer payments. Apple’s other major financial product, Apple Pay, is the platform that allows the exchanges to be possible. The company also offers a mobile card payment app called apple card that links directly to your bank account, making transferring funds a breeze.
Which of These Mobile Payment Apps is Right for Your Business
These four mobile payment apps can help make paying employees a simple process instead of spending endless hours trying to get employees paid. With extra features like instant pay, financial counseling, and discounts, your employees will thank you for making the switch. Getting started with mobile payments is easy. All it takes is setting up an account and connecting your account.
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