None – but your bank/credit union may charge oneģ% credit card transaction fee 1% fee for fast transfer Name, email, mobile number, or PayPal.Me link Zelle app, or your bank’s app if they participate Let’s begin with an overview of the key points of difference between PayPal and Zelle, before we drill down into what those differences really mean. Zelle recommends its customers to use the app only for finantial transactions with people that they know, hence it might not be the best soilution for commercial transactions. E.g.: a banks’ clients sends the money with their online banking, but through Zelle’s own service. It focus on partnerships with financial institutions from the US, integrating their instant payment service within other institutions' apps. Zelle was initially founded in 2011 as clearXchange, having changed its name to the current one in 2017. You can PayPal either from your laptop or from your phone. With around than 325 million active customers in 2021, it’s used for personal payments, but also very popular amongst online shoppers, merchants and platforms like eBay, for its commercial transactions. PayPal is the most popular P2P company worldwide, with services like PayPal me, which makes peer-to-peer payments easier. In 2002 it was acquired by eBay until 2015, and also in 2015 it acquired Xoom, a company to send money online. PayPal was established in 1998, being the first P2P service. Here’s a quick intro on all of them: PayPal Typically, an app will connect to your bank account or credit/debit card, and within the app you can select a phone contact to pay, without having to exchange bank details.īut they all operate in slightly different ways – as you’ll soon see. These are payments that you make to a friend, family member or even a merchant, simply by using your phone or laptop. Zelle and PayPal offer ways you can make peer-to-peer (P2P) payments and they’re some of the biggest names in the field. Meet Wise and start saving Zelle vs PayPal: peer-to-peer payments You’ll also meet Wise and how it compares to PayPal as a way to pay and send money online and internationally. That’s why in this article you’ll find out how the two of them compare. Though PayPal is a major player when it comes to online payments in general, it competes with Zelle in the specific area of peer-to-peer payment, where both are popular options. Zelle or PayPal is a question you may have found yourself asking if you’ve been working out how to pay a friend. Travelling to Australia Austria Bangladesh Belgium Brazil Bulgaria Canada Chile China Colombia Croatia Cyprus Czech Republic Denmark Egypt Estonia Finland France Georgia Germany Greece Hong Kong Hungary India Indonesia Ireland Israel Italy Japan Kenya Latvia Liechtenstein Lithuania Luxembourg Malaysia Malta Mexico Monaco Morocco Nepal Netherlands New Zealand Nigeria Norway Pakistan Peru Philippines Poland Portugal Romania Russia San Marino Singapore Slovakia Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Thailand Turkey Ukraine Vietnam The UAE The UK The US.Life in Australia Austria Belgium Brazil Canada China Croatia Cyprus Czech Republic Denmark Finland France Germany Greece Hong Kong India Indonesia Ireland Israel Italy Japan Luxembourg Malaysia Malta Mexico Netherlands New Zealand Nigeria Norway Pakistan Peru Philippines Poland Portugal Russia Singapore South Africa South Korea Spain Sweden Switzerland Thailand Vietnam The UAE The UK The US.The only downside is the Venmo card is way nicer than PayPal's card (which looks like a standard card and cannot be customized at all). It seems like PayPal is the better option, since apart from these differences, they both can do everything else the that the other does. The PayPal app can be linked to Google Pay and Samsung Pay, which means you can any of those services at anywhere they are accepted, and it all comes out of your PayPal balance or linked bank account/debit card (as well as the added bonus of sending money to people using Google Pay, because it doesn't require the other person to have Google Pay or to download any apps to receive it - this is especially good when sending money to someone who doesn't use PayPal). PayPal allows you to deposit checks by taking a picture of it using your PayPal app PayPal additionally allows loading of money onto your PayPal card/PayPal balance in many different stores, including Walmart Venmo includes a social feed for its payments and is marketed for a younger demographic It makes you wonder why they both have a card when they are both owned by the same company and provide essentially the same service.įrom what I can tell, there are 4 significant differences: Thanks for the input, yes it seems they are almost the same.
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