Apple Wallet vs. PayPal vs. Google Pay

There are two groups of people in the technological world today: Those who once lived in a technologically undifferentiated world, and those who can only recall a world that originally had mobile devices of all shapes and sizes.

Connecting mobile wallets to traditional banks through apps turns bank cards into electronic wallets. There's also no need to carry around a bulky wallet when you have an iPhone tucked away in your pocket.

Services, such as Google Pay , Samsung Pay , Apple Wallet , and the grand-daddy digital payment system PayPal , all provide digital access to your money. You can also make your own Fitbit Pay payments and be hands-free thanks to them, and money-enabled.

Unlike ordinary wallets, digital wallets don't need to feature a card slot for credit cards. You can also store your digital tickets to an upcoming event or concert, your car keys, and your gift cards in your digital wallet.

Digital money transfer services (digital wallets) have been around for more than half a century. The simplicity of these payment systems are designed to lessen the learning curve even for older generations. If you're curious about testing the digital waters, here are some of the biggest payment networks to get you started.

The best of digital wallets

Before you decide on the best app for you, you may want to understand a bit about digital wallets in general. Digital wallets may use Bluetooth or NFC (near field communications) chips that simplify your payment process. They might connect to other apps on your phone or utilize your phone's camera to scan information via QR codes.

Consider these apps store your credit card info, checking account details, and a great deal of private info, so you need to comprehend exactly how they function and the best way to secure your info.

Digital wallet providers

The new mobile device you have purchased most likely includes the online wallet meant for your particular operating system. If you purchase an iPhone, it may include Apple Pay. If you purchase an Android device, it may include Samsung Pay or Google Pay.

PayPal started out as an option for making payments in the 1990s, when the concept of e-commerce sites was still novel. Its app is compatible with all digital gadgets and is available for free in the Google play store and the Apple App Store.

You can select a specific digital wallet app for a variety of reasons. Everyone may have their own particular opinions, however, which digital wallet app you should choose is up to you.

1. Apple Pay, Apple Wallet, and Apple Cash

First introduced by the iPhone 6 in 2014, Apple Pay has began providing a variety of Apple-branded apps and services, all designed to help you facilitate money movement on your iPhone, Apple Watch, or a combination of other devices and technologies based on Apple's iOS operating system.

Apple Pay

Apple Pay includes all the same features that are related to your digital wallet on your Apple iPhone. It includes the various security features, the way in which your device interacts with payment processes at retailers and online, and the contactless payment features. In general, Apple Pay is more about the overall systems rather than the services.

Apple prides itself on the ease of use and security benefits of its service. No one sees your credit card number during a transaction. The same technology used to protect your device, Touch ID or Face ID also protects your sensitive information within all the Apple Pay services. Those looking for security and data privacy can benefit from this aspect of the various digital wallets.

Apple Pay also connects other Apple features and applications, including Apple Music, Apple's iCloud service, and the Apple Wallet and Apple Cash features.

Apple Wallet

This is the heart of Apple's digital wallet, holding your credit card and debit card numbers, your driver's license information, and your payment setups. When assessing digital wallets, Apple Wallet is the specific plug-in on Apple devices.

The features and services in Apple Wallet are subject to change with operating system updates. This will also be the place where you should update your user information when your debit card expires or when you change or add a new account.

The terms wallet and financial offerings of your iPhone are often used interchangeably, so you may consider Apple Wallet the digital wallet part.

Apple Cash

Let's say pre-internet, when you cashed a check, you kept an envelope of cash save to spend on purchases at shops where paper checks weren't accepted. Apple Cash is the money equivalent of the envelope of cash. Transfer money into the Apple Cash virtual account and use it until it runs out. At that point, refill the account.

Furthermore, Apple Wallet is just another destination for where you might have money stashed. Envision any other place where you store cash — your checking account, savings account, 401(k), and HSA, along with Apple Cash — all combine to create a lot of virtual locations where your money spreads. Keep track of your money is more challenging the more money you have stored in various electronic formats.

2. Google Pay, Google Wallet, and Samsung Pay

Much like its competitors, the terminology Google Pay and Google Wallet are used to describe Google's money-movement services, but Google Pay is the official brand name. Talking about brands, Google has named its first financial product as simply "Wallet," so it knows where the technology is headed in this regard, which the term Wallet alludes to.

The Android Pay platform was later merged, whereas Google Wallet continued as a peer-to-peer payment process. As technology evolved, Google integrated Wallet and Android Pay into Google Pay.

Google Pay

Google Pay consists of features also referred to as Google Pay Wallet. Google Pay is the name of the application and all services that are associated with it. Conveniently, an iPhone user can download Google Pay to their iPhone, however, a Google Wallet app is not available for Android devices.

Due to its creation first, Google Pay was often adopted in places outside North America, but the technology has further evolved as time went along. Google Pay offers a variety of useful features, many of which resemble those offered by Apple. Participation in Google's Google Cloud platform has contributed to the advancement of payment processing technology in recent years.

Google Wallet

If you search the Google Play app store, you will not find Google Wallet. You might refer to the section within Google Pay where you enter details about your debit card and credit card, make payments, and update your account. In Google Pay, you can record information and data pertaining to vaccination.

The phone's security and privacy features provide you with peace of mind as you use your phone to access personal data and information. You can use your Samsung device to take a picture of your debit or credit cards and then add them to your wallet's card tracking feature. Google Pay will alert you when a payment has been made to your digital wallet. You will not be notified about overspending, receipts, or transaction history.

Samsung Pay

The Android operating system not only powers Samsung devices, but Samsung Pay, like Apple Wallet, was designed to align with the system. Samsung Pay has not expanded to as many countries as Google Pay, but both Google Pay and Samsung Pay allow payments through PayPal. Still, only the Samsung app allows international payments through the next digital wallet.

3. PayPal

PayPal is not simply a digital wallet, but it has also established itself as a platform for sophisticated money movement solutions. Just as it launched digital payments in the early 2000s, PayPal now offers lots more money-movement services than just digital wallets.

PayPal's entire business model is based on allowing individuals to make and obtain payments. If you're not new to the internet, you likely already have a PayPal account, and your credit or debit card is already linked, so downloading and installing the app just got easier. It can be accessed from a desktop computer as well as a mobile device.

PayPal One Touch

Similar to Google Pay, PayPal's mobile wallet system popularly referred to as One Touch is available from different manufacturing lines, including iPhones, Samsung, Sony, HTC, and so forth.
By being primarily an online payment system, PayPal makes it easy to make purchases at physical stores both online and offline. Even online, it's best to look over at the store you're at before buying anything, and you may not find it easier than you use any other digital wallet or credit card.

PayPal does enable cryptocurrency purchases, so you can use a digital wallet to leap ahead into the future immediately.

Additional digital wallets

Digital wallets that aren't mobile applications are also considered closed digital wallets. For example, Amazon's digital wallet allows customers to store credit cards, debit cards, and gift cards within its app.

Semi-closed digital wallets allow for some flexibility across multiple stores, but the stores must use standing agreements with the payment services, making these services more specialized and preferential.

Choosing the best digital wallet

If you're using the default digital wallet on your smartphone, you already have a rounded view of its benefits and features. If that particular ship has sailed, lend a hand to the app by leaving a testimonial or recommending it to others in your social media network.

Should you simply be braving the waters, you may need a few questions answered before giving up your physical wallet. Here are the blessings of consulting with other teams regarding their favorite digital wallet.

Mobile security for digital wallets

Just like anytime you provide your account information, you should be positive your information is safe. You wouldn't withdraw from an ATM without entering your code, don't neglect the similar security features protecting your phone's digital wallet. Whether you utilize Face ID , Touch ID , or always locking your screen (and not with a bad password like "1111"), always use your device's security feature.

Android and iOS are continually updating the suite of software they supply to add new features and enhance security. Stay current with your operating systems and install software patches to ensure you have any updates. Likewise, update your apps on a regular basis. Convenience is always a priority when updating your mobile software. All your devices typically have a feature to take care of automatic updates for apps, so take advantage of that.

Track your digital spending

Since these apps don't track your purchase history, you may not know how much you are spending daily or paycheck-to-paycheck. It's easier not to pay close attention to your budget when your digital wallet doesn't reflect all your cumulative purchases.

Despite the digital wallet's functionality, it's still beneficial to keep tabs on your traditional accounts, as it will make certain you're aware of exactly where your debit or credit cards are pulling money out of. keeping track of multiple cards from different sources can make tracking your spending more challenging.

A good practice would be to consolidate all your payment methods and have just one card and one debit card connected to your local bank or credit union so you can still utilize spending alerts and quick access to see every mobile payment from your digital wallet over a week or month.

As you make use of the benefits of your digital wallet, you may observe that your physical card acquires several swipes. Think about using alerts and notifications from your mobile banking app or online banking to keep track of your spending.

Don't forget your digital savings

Digital wallets make low-stakes purchases more convenient and efficient, but they don't prioritize your savings goal. Setting up scheduled monthly payments will simplify your finances regardless of your digital wallet.

Customer service and support

If you run into a problem using your digital wallet, you'll be likely directed to complete an online form or talk with a live person. Later on, the source of your digital wallet's money will return to normal, so utilize a nearby bank or credit union if you need support.

Digital wallets provide plenty of security, but as modern technology advances, so does the risk of online scammers. Have a plan and resources to deactivate your cards from your wallet in an emergency situation, as well as a way to change information about your digital wallet from your main computer. Also, if you lose your phone, be sure to have a way to change info regarding your digital wallet from your computer.

Open your new wallet

Finding methods to invest your money won't be difficult, and contactless payment methods can make spending simpler still. However, responsible money management remains unchanged regardless, of whether you're using a digital wallet.

If you're still carrying a physical wallet, give a new mobile wallet a try. If you are already using your digital wallet as your only payment method, consider yourself a digital native.