There is no doubting how important mobile devices have become in our daily lives. Whether smartphone or tablet, the ability for either device to increase not just our power to communicate, but simplify our daily lives is now insurmountable.
One growing trend with smartphone and tablet users is to utilize these devices for personal finance. A smartphone, such as Apple’s iPhone, can now be used to purchase merchandise, track one’s finances, as well as give real-time financial information. This is a far cry from sliding credit cards, holding onto bills and receipts, or even tracking one’s financial activities from a computer, even though many financial apps still offer such an option.
Sure, but is it safe?
While the issue of safety when using pay on the go apps will always be a concern, one should also consider that in this day of the credit card, particularly in lieu of credit card skimmers to the outright theft of one’s wallet, mobile finance apps provide a much higher measure of safety. This is particularly true as many of the most popular financial apps do not store personal information on servers or even the devices themselves. As well, should a device be stolen, the owner can remotely wipe the app with their pin number.
The Leading Apps
Now that it has been established that mobile financial apps are more convenient in both purchasing items as well as tracking finances, and in addition to that, are much safer than traditional credit card-type methods, it’s time to look at the leading apps in finance:
Mint.com
Mint.com is a free mobile finance app that works with both iOS and Android. The app gives a simple, real-time update of account balances while the user is connected to the Internet. Mint.com can also automatically categorize transactions, give alerts when the user is about to go over budget, as well as allow the user to utilize push notifications about bills. The apps benefits are its speed and reliability.
Venmo
Venmo has been called the crown jewel of all finance apps. This free app gives the user the ability to link their credit cards or bank account to their device, giving them instantaneous payment possibilities. Venmo also offers a communal atmosphere where its users can send direct payments to each other by way of text message. The Venmo app is compatible with iPhone, iPod touch, and iPad, and requires iOS 3.1.3 or later.
PayPal and PayPal Here Apps
If a user is looking for a more familiar name in the pay-on-the-go app scene, PayPal offers a very simple app that tracks balances and offers options as to how payment should be sent. Its sister app, PayPal Here, allows the user to run their business on the go by taking checks and cash sales, send invoices and even plug in PayPal’s mobile credit card reader to swipe cards. PayPal and PayPal Here are compatible with iOS devices as well as Android and Windows.
Ease, Convenience and Efficiency
While the three apps above are the most widely used for mobile finance, there are many other financial apps on the market with the capacity to be specifically tailored to an end- users’ needs. The best way to investigate financial apps is for a user to look critically at their needs, and understand their spending and saving habits. Whatever one’s choice may be, in all cases mobile financial apps are a much more efficient and safe manner in which one can track their payments and finances.
