(CNN) – Your smartphone is replacing your wallet. Mobile payment apps like Venmo, Zelle and the Cash App are quickly replacing cash when it comes to paying friends and family. All three allow you to link up your bank account, type in a dollar amount, and send the money fast!
The biggest difference is that Venmo is the only one that lets you get social. You can post about your transactions and interact with others.
Zelle is setting itself apart by going after older users. The service is already built into many mobile banking apps like Wells Fargo and Bank of America.
Zelle also puts that cash into your recipient’s bank account instantly. On the Venmo app, instant payments cost 25 cents and you must have a Visa or Mastercard. Instant deposits on the Cash App will cost you 1.5% of the total amount you’re trying to send.
Consumer Reports recently rated all three apps secure to use, and they recommend you follow these three tips for the best experience and to reduce your risk.
Number one: opt into extra security. Take those extra seconds to set up protections like a pin and features that require a special code to confirm payments.
Number two: keep your app up to date. If you have the old version, you’re missing the latest security protections.
And number three: it may sound obvious but only send money to people you know.