Category Archives: US Money Transfers

Get Ready For Apple Pay, The Mobile Wallet By Apple

By Mohammed Waseem

While the world is going mobile, a number of companies are pitching into the payments space to make the best of the market before anyone else does or before the market saturates. Mobile payment is not available in many countries, but initiatives are being taken by many organizations to introduce the service all over the world.

Hopefully, with Apple Pay, the new mobile payments service by Apple will reach everywhere iPhones and iPads are used. Currently, Apple is launching the service in the United States only. With this service, Apple mobile device users can checkout online and at retail locations across the country. Launching this month, the service will be available only for iPhone 5 and later models including iPhone 6 and Apple Watch. iPhone 5 users can use this service with the Apple Watch.

Apple Pay by AppleThe technology used for the Apple Watch is amazing; whether the wearer is the owner of the watch or not is confirmed with the detection of the wearer’s skin beneath the watch, through a PIN code entered when the watch was first put on. The technology used for payment is NFC (Near Field Communication), which is used in contactless payments or cardless payments.

The response to this from businesses is amazing; 222000 vendors are already supporting Apple Pay. Supported Apple devices come with a dedicated chip that securely stores a unique number called the Apple Pay ID. This ID is used when payments are made, the last 4 digits of the same would show on receipts.

Apple Pay would act as a mobile wallet that stores cards which would be used for making the payments. It would be seamlessly integrated with most of the apps for in-app purchases. Even while purchasing in store, the service is highly secure as the vendor would not know the user’s card number, name, or any other personal information. Interestingly, even if a device is lost, the payment information would remain secure.

Let’s wait for the service to launch and see how far it goes. It would be nice to see it introduced in other countries as well.

Send Money With The USAA Mobile App

By Mohammed Waseem

Money transfer apps have increased in number, which has made our lives easier. Anywhere we are, we can semd money to anyone, right from our smartphones. USAA, an organization that offers financial products and services to the military community and their families. Founded in 1922, the organization has grown to serve millions of people with competitive financial products and services.

Most of the services are available to the members of the US military and their families but some financial planning and investment products are available to the public. Among these products is the online money transfer service which one can access on Android or iOS smartphones through the USAA Mobile app.

USAA MobileThe app can be used for most of the services offered by USAA including money transfer, bill payment, deposit checks, manage investments, etc. For sending money, one does not need to be a member of USAA. One needs a savings account or a checking account with the organization, which is at least 30 days old, in order to be able to transfer money from their mobile app. Money can be sent to anyone who has an email or a mobile number. Up to $1000 can be sent in one day, with a limit of three transactions daily. Through email, money can be sent to recipients in over 66 countries listed here, where PayPal is accepted. Throuhg a mobile number, it can only be sent to residents in the US.

Recipients who are USAA members receive the money instantly into their account with the organization. Non-members receive the money into their PayPal accounts. If they don’t have a PayPal account, they receive instructions from PayPal on their email or phone to create a new account and claim their funds.

The app can be downloaded from the respective app stores for Android and iOS and money can be sent immediately if one already has an account with USAA.

Send Money and Shop Online with Amazon Payments

By Mohammed Waseem

When a technology develops and people begin to like it, more and more choices come into existence. Among the well-known names, we have Amazon that acquired TextPayMe in the year 2006 and renamed it to Amazon Payments in 2011. With their service, residents of the US can send and receive money on their Amazon account.

TextPayMe was an SMS payment service that allowed users send money to other people using cell phone text messaging. Anyone in the US who had an SMS-enabled phone could receive money with this service. Amazon has now improved this service and has moved it online. So, users can send money to anyone in US with an email address.

Amazon Send Money ScreenAnyone can send payments from the Amazon Payments website using WebPay. In order to send, a user has to login and click the ‘Send Money’ tab. In the recipient field, the email or the recipient’s alias has to be entered and then the amount in the amount field. Users can also add a personal note while sending money.

Recipients who are not registered with Amazon need to do it within 30 days from the date of sending money, after which, it is returned to the sender. Senders using personal accounts can send up to $500 per month, which may either be raised or be removed entirely if a credit card and a verified bank account have been linked to the account. This applies to the recipients receiving money as well.

This service also allows requesting money online from the ‘Send Money’ section. Both the sender and the requestor are sent emails. The email send to the requestor contains a link to send the payment reminder or to cancel the payment. The sender receives an email with links to accept or decline the payment. If the request is not fulfilled within 10 days, it is automatically cancelled.

Interested users can sign up for a basic account with Amazon to be able to send and receive money with this service. Users can also shop online and use their Amazon Payments account for secure checkout. They also offer solutions for businesses to include ‘Checkout with Amazon’ or ‘login and pay’ on their websites. The standard rate for this solution is 2.9% + $0.30 per-transaction for transactions of $10 or more.