VENMO / ZELLE

Payment applications, such as Venmo or Zelle, are mobile apps that allow consumers or businesses to purchase items and complete transactions directly from the platform.

These payment applications, or mobile apps, enable businesses and consumers to complete transactions from their mobile app or smartphone, meeting current consumer demand for convenient and quick ways to pay.

Some of the most popular and widely used payment applications, such as PayPal or Venmo, allow people to make peer-to-peer payments, pay bills, or pay businesses for products from their app. To use the app, a consumer needs to set up a profile and enter their credit or debit card data into the system. Once approved, the consumer can make near-instant payments directly from their app.

Other payment applications, such as Zelle, connect directly with a consumer’s bank account, enabling them to make real-time bill payments from their account of choice.

No matter the use case, payment applications serve a critical purpose in today’s economy. They enable fast, secure, and easy ways to move money.

VENMO

Venmo is a mobile payment app that allows users to send and receive money, split bills, and make purchases:

Send and receive money:

Users can send and receive money using their phone number or email address, and can pay with their Venmo balance, debit or credit card, or US bank.

• Split bills:

Venmo's Groups feature allows users to split bills for shared activities, household expenses, and more.

• Make purchases:

Users can make purchases at participating merchants using QR codes in-store or on authorized partner apps or mobile websites.

• Invest in crypto:

Users can buy, sell, track, and transfer five types of cryptocurrencies.

• Manage money:

Users can get a Venmo Debit Card or Venmo Credit Card. The Venmo Debit Card has no monthly fees or minimum balance requirements, and the Venmo Credit Card offers up to 3% cash back on eligible purchases.

• Social network:

Venmo users can like and share payments through a social feed, and observe other users' public transactions.

• Teen Account:

Venmo offers a Teen Account for eligible users 13–17 years old.

Venmo is free to set up an account and to use for online purchases and sending money to people. However, some services carry a fee, such as transferring money instantly from Venmo to a bank, depositing checks, and using a credit card account instead of a linked bank account.

ZELLE

Zelle is a money transfer app that allows users to send and receive money quickly and easily. It's available through the Zelle app or through a banking app that offers Zelle.

Here's how Zelle works:

• Enroll in Zelle through the app or your banking app
• Enter the recipient's email address or phone number
• Choose the amount to send
• Review and validate the payment details
• The recipient will receive instructions on how to receive the payment

Zelle has several advantages, including:

• No fees

Zelle doesn't typically charge fees for consumers to send or receive money. However, you should confirm with your bank or credit union that they don't charge fees.

• No need to bank together

You don't need to bank with the same bank as the recipient to send and receive money using Zelle.

• Secure

Zelle is generally secure because it's connected to the largest banks in the US. However, there are still risks, such as glitches at banks that can affect money transfers.

Zelle doesn't offer payment protection beyond the ability to cancel a payment to an unenrolled recipient.

As a convenience for our clients, Heritage Home Care™ provides the option to pay their invoice balance with Venmo or Zelle.