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Compiled by: There are lots of companies out there and lots of different styles of digital payments. You may want to download several apps so that you are ready for whatever your customers may have. You may also want to identify one that works best for your style of accounting and inventory tracking. Stop thinking about cards and cash

Especially in this time of social distancing and worry of contagion, cashless transactions are enticing. But even when your vending goes back to normal you will find that the easy of digital transactions may still work best for you. Start thinking about phones

In this day and age, it is rare to find someone who doesn't have a smart phone. when it comes to digital transactions, all you need is to download an app. (Sometimes you don't even need that!) This technology makes it is to use touchless payments in stores as well as outside away from the credit card terminal. Many terminals are set up so you can merely tap or wave your card near the terminal and it will receive your payment information. Connect to a bank Connect to a debit account and/or credit card

Have an account Often can be used balance on the online app

Accepted by Designed for use stores and with card readers retailers

Because of NFC and these new and innovative payment options, it is possible to basically carry your wallet in your phone. You will no longer need to worry about dropping or losing your credit card from your wallet! Google Pay

Apple Pay

Samsung Pay

PayPal

Several large companies have been set up to manage your digital wallet. All of these examples allow you to make payments from credit cards, debit cards, bank accounts, or a proprietary account. Except for PayPal, these examples here allow you to make NFC transactions from you phone. Peer to Peer (P2P)

Transfer funds directly to friends or family by phone

Some do not require recipient to have the app

Some do not charge fees

Some can go through email or text

P2P transactions are similar in some ways, but these apps allow you to trade funds between individuals, phone to phone rather than at a terminal or online. Cash App

Venmo

Xoom

Zelle

And many more…

These examples are some of the most popular ones, but there are many out there. Since different people have different ones, and they are rather easy to sign up for, it doesn't hurt to download more than one app. Some vendors report downloading a payment service on the spot to complete a customer's transaction. ƒ Venmo

The Facebook of cash apps PROS ƒ Sending and receiving cash is effortless. ƒ Can be used on some sites and apps that accept PayPal. CONS ƒ Default privacy setting shares your payment history with the world. ƒ Requires recipients to install app.

Owned by PayPal, this app allows you to have a cash account, connect to a bank account or debit card, and chares a 3% fee to connect to a credit card. ƒ PayPal

The Big Guy PROS ƒ the most widely used online payment service. ƒ Shows activity for online and app activity. ƒ Easy to set up and use. ƒ Excellent security track record. CONS ƒ Payment splitting not as straightforward as in Venmo. ƒ Lacks NFC support

Being a big company that favors the customer, vendors have reported having problems defending themselves when there is a dispute. ƒ Zelle The simple way PROS ƒ Money goes directly into recipient's bank account. ƒ Works inside existing bank apps (sometimes) ƒ Recipient doesn't need app. ƒ High payment limits, no fees and you can cancel payments CONS ƒ Bare-bones interface. ƒ No international payments or in- store/web store payments.

Though it may not be as well know as Venmo, users like the ease of use. It has been reported that it can be difficult to tie it to an AlaskaUSA Credit Union account ƒ Cash App Straight forward PROS ƒ Simple, clear interface and setup. ƒ Works with Bluetooth LE to find nearby payees. ƒ Lets you cancel payments. ƒ Can automatically deposit money into your bank account. CONS ƒ Doesn't work in web stores or at points of sale.

Similar to Venmo, the Cash App allows you to connect to a bank account or debit card for free, but will charge 3% for using a credit card as the source of your payment. ƒ Square Everywhere, so many possibilities PROS ƒ Free online store for sales as well ƒ Diverse payment options CONS ƒ Need hardware, ƒ Will require contact or manual entry ƒ P2P transactions only with a different app

Popular with many vendors, with Square you can use a card reader or enter credit card numbers manually. The Cash App is the P2P app owned by Square. Square also has the option of a free shopsite website with your account. This could be an all-in-one option for a vendor looking to promote their business in various ways. ƒGoogle Pay And Google Send PROS ƒ Quick and easy NFC-based payment system. ƒ Substitutes actual card numbers with virtual ones for security. ƒ Gift card and loyalty-program management. ƒ Online and in-app payment capability. CONS ƒ Functions divided between separate apps.

Google Send is the P2P version and Google Pay is the digital wallet version. It even allows you to use it to spend gift cards. Between the two, they also may be a complete system for your sales and purchases. ƒTotilPay Go Integrates with: Square Allows you to take: Credit cards Debit cards Loyalty cards SNAP WIC

Though this program comes with a physical card reader, it is the one that will accept SNAP EBT transactions (the digital form of food stamps). It integrates with Square and can take on all of your digital wallet accounts as well. If you are able to take SNAP benefits, this may be the whole answer for you.

WARNING: There are no fees for setting up this app, but there are vendors who report that there are companies who will send solicitations for fees as if they are Totilpay. So watch out for scammers!