Page 7 - All the 12 payment enabling technologies
P. 7
Email/Chat/Phone
You can transfer money through email (Dwolla, Paypal, Google), through Chat (Wechat from Tencent), and phone
(Dwolla, others)
How it Works Companies involved
Users can send P2P payments with linked debit
accounts. Funds are typically transferred using ACH
network.
Use Case
P2P funds transfer; bill payment
Strengths
Speed of transaction, ease of use; no new account
(i.e. PayPal); Little to no cost to users (if used with
bank account)
Weaknesses
Security is low
Security Risks
Apps have few security features (i.e. Square Cash has
no passcode), but data transmissions are encrypted
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