Cash App vs Venmo vs Zelle: Best Mobile Payment App

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Peer-to-peer payment apps like Cash App, Venmo, and Zelle have changed the way consumers send, receive, and transfer funds within a matter of seconds. Paying rent or splitting a check has never been easier thanks to these mobile payment apps revolutionizing how consumers use their money on the go in the 21st century.

The current popular payment apps are as follows:

All these services are free to use, however, realize there are some slight differences in each of the three services provided and how they operate.

Cash App

The Cash App is unique in that the app enables users to invest in stock and cryptocurrency in addition to the app being a peer-to-peer payment app. In other words, the Cash App incentivizes users to hold a balance and invest with the app itself. Whereas other mobile payment apps like Venmo and Zelle cater more to the transfer of funds from one person to another.

If Robinhood and Venmo had a baby, it would be the Cash App because the platform offerings draw many characteristics of both platforms: the ability to invest and at the same time offer a peer-to-peer transfer of monetary funds in one centralized location.

Cash App referral bonus for new users

The Cash App offers new users a $5 referral bonus for new users if they use the referral code: HFFBCJT

The only terms is that new Cash App users must transfer funds to another Cash App user within 14-days to be eligible for the free $5 sign-up bonus.


Venmo is strictly a peer-to-peer payment app solution that is designed to have a hint of social media aspect to its app design. Only recently have Venmo started expanding its product offerings to include Venmo Business and even a Venmo Credit Card.

Venmo enables friends of your Venmo network to see your payment history and transactions. Moreover, the app boasts a newsfeed of the recent transactions to essentially glance at what your friends are up to. The app is similar to the Cash App in that Venmo enables user to hold a balance, although there is no investing incentive like the Cash App platform has.


Out of the three apps, Zelle is the most secure and endorsed by banks the most. The reason is that the app does not hold a balance for you at all. All funds that are routed to your email or phone number that is tied to your Zelle account get deposited straight into your bank account.

With the Zelle app, banks are actually losing money for each transaction made. Banks are subsidizing the cost of the transaction from consumers hoping the user will eventually become a customer of the financial institution.

In other words, there is no middleman app in between. The transfer of funds goes directly into the account holder’s bank – which makes Zelle one of the most secure peer-to-peer payment app out there available in the mobile payment market.

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Editorial Disclaimer: The editorial content on this page is not provided by any of the companies mentioned and has not been endorsed by any of these entities. Opinions expressed here are author's alone

The content of this website is for informational purposes only and does not represent investment advice, or an offer or solicitation to buy or sell any security, investment, or product. Investors are encouraged to do their own due diligence, and, if necessary, consult professional advising before making any investment decisions. Investing involves a high degree of risk, and financial losses may occur.

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