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People below are rattling off lists of alternatives, PayPal (fees), Venmo (requires another account setup), Google Wallet, Apple Pay, and so forth. I'd hate to

People below are rattling off lists of alternatives, PayPal (fees), Venmo (requires another account setup), Google Wallet, Apple Pay, and so forth. I'd hate to be that guy, but the cryptocurrency blockchain technologies have some potential for something none of these other technologies have, which is elimination of vendor lock-in. It's annoying to have such a variety of places where I have username and passwords to apps which store my account credentials. I forgot LevelUp which I use for (it turns out) just ONE coffeeshop. I have accounts on all the others (linked to my bank account) minus Venmo because I guess I decided, enough is enough. The account proliferation due to inefficient competition and lock-in of vendors is absurd. So in comes Zelle, perfectly positioned to solve that problem, but for 'friends and family' only? My tenant pays me through it, and I don't think we're related. Banks are slow, conservative dinosaurs allowed to constantly play CYA with consumers.

tzs 9y ago
You don't need a username and password to pay by PayPal. For Apple Pay you only need to use your username and password when setting it up, if I recall correctly. When you use it to pay you only need your fingerprint (or face if you have a phone with FaceID?). Cryptocurrencies (at least the currently popular ones) only sort of match what Venmo does from your list. The rest do things that cryptocurrencies do not do, and that most consumers want. PayPal (if you pay with a credit card), Google Wallet, and Apple Pay provide you the protections that a credit card provides. Seller doesn't provide the goods? Call your card company and they reverse the transaction. If you have a PayPal account as a buyer and pay through a balance on the account, I think you still get protection. With Bitcoin and I think the other popular cryptocurrencies in actual use for real world purchases you don't have protection. Like Venmo (and Zelle) they are like sending cash, except unlike Venmo and Zelle cryptocurrencies are essentially a foreign currency which adds some headaches to using them. Zelle doesn't say it is for friends and family only. What they say in their FAQ is: > Zelle is a great way to send money to family, friends, and people that you are familiar with such as your personal trainer, babysitter, or a neighbor. If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an on-line bidding or sales site), we recommend you do not use Zelle for these types of transactions. Presumably your tenant is familiar with you, and so Zelle is fine for him to use. It's essentially equivalent to paying in cash. They should say that somewhere prominent on their site. That would probably clear up a lot of confusion, as I think most people in the United States have a good intuitive understanding of when you should and when you should not use cash.

tzs 9y ago

You don't need a username and password to pay by PayPal. For Apple Pay you only need to use your username and password when setting it up, if I recall correctly. When you use it to pay you only need your fingerprint (or face if you have a phone with FaceID?). Cryptocurrencies (at least the currently popular ones) only sort of match what Venmo does from your list. The rest do things that cryptocurrencies do not do, and that most consumers want. PayPal (if you pay with a credit card), Google Wallet, and Apple Pay provide you the protections that a credit card provides. Seller doesn't provide the goods? Call your card company and they reverse the transaction. If you have a PayPal account as a buyer and pay through a balance on the account, I think you still get protection. With Bitcoin and I think the other popular cryptocurrencies in actual use for real world purchases you don't have protection. Like Venmo (and Zelle) they are like sending cash, except unlike Venmo and Zelle cryptocurrencies are essentially a foreign currency which adds some headaches to using them. Zelle doesn't say it is for friends and family only. What they say in their FAQ is: > Zelle is a great way to send money to family, friends, and people that you are familiar with such as your personal trainer, babysitter, or a neighbor. If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an on-line bidding or sales site), we recommend you do not use Zelle for these types of transactions. Presumably your tenant is familiar with you, and so Zelle is fine for him to use. It's essentially equivalent to paying in cash. They should say that somewhere prominent on their site. That would probably clear up a lot of confusion, as I think most people in the United States have a good intuitive understanding of when you should and when you should not use cash.