Consumer Reports today published its first-ever breakdown of the best peer-to-peer mobile payment platforms. Comparing Venmo, Square Cash, Facebook Messenger, Zelle, and Apple Pay Cash, the tests found that Apple’s offering scored “significantly higher” than competitors…
Overall, Apple Pay Cash received a score of 76, with features such as payment authentication and data privacy giving it a leg up on competitors. Apple was also well-rated in data security and data privacy, though it faltered in “broad access” when compared to its competitors.
Venmo was the second-highest scored platform with a 69 rating, while Square Cash received a 64, Facebook a 63, and Zelle a whopping 50. Zelle was particularly slammed for payment authentication, data security, data privacy, and broad access. A score of 81 to 100 is excellent, 61 to 80 is very good, and 41 to 60 is good, according to Consumer Reports.
Consumer Reports explains that Apple Pay Cash received high security marks because of Apple’s efforts to limit data collection and for the fact Apple doesn’t store credit card and debit card numbers:
The tests also highlighted that while “most services” offered support for added security layers, such as a PIN and two-factor, Apple Pay cash was the only one to require such authentication, with other platforms making users opt-in.
In a statement to Consumer Reports, an Apple spokesperson touted that Apple Pay combines ease of use, privacy, and security:
Apple Pay Cash began rolling out to users back in December as Apple’s way of competing with the likes of Square and Venmo. You can read the full Consumer Reports breakdown of these services right here.
