Top 5 mobile payment options

According to New York Daily News in 2012, 85% of smartphone users said they couldn't last 24 hours without their phones. That means that while you may forget your keys or your wallet, you probably won't be forgetting your phone at home.

That's why companies are constantly trying to figure out how to make payments completely digital.

Here are some of the best ways to pay on the go:

5. Mastercard (untitled):
This one has the chance to be a game-changer, but because it's still in beta it'll stay at the bottom of this list until it sees a wide release. While Mastercard already offers virtual payments in stores with Mastercard PayPass, the in-development app is looking to make payments as easy as taking a selfie. Literally. Taking a selfie would be all it takes to pay in-store or online. Better yet, the company has already promised that none of the photos used to pay would be saved on any kind of server.

 4. Apple Pay:

If you've ever seen one of those fancy Mastercard swipe machines on top of a card reader then you could have been paying with Google Wallet. The service links to any debit card or bank account and can be used to pay at participating retailers just by waving your phone over the reader. What holds the service back though is that while it's made its way to the Apple Watch, it is unavailable on Android, making person-to-person payments more of a hassle than they need to be.

3. Venmo:
Venmo is the gold standard right now in terms of person-to-person digital payments. It does suffer due to the lack of retail or online support, but if you're trying to pay back a friend from three towns over, it's as simple as sending a text message. It is available on iOS, Android, and BlackBerry and doesn't require registration through a third party like PayPal.


2. PayPal:
The original money-less payment platforms is still one of the best. It offers a variety of services and is available online and in-app from just about any device. It can send money between accounts and to limited retailers and online stores. However, the 3-5 day period it takes PayPal to move money from your account to your bank account still makes it hard to call the service “instant” and can be frustrating when trying to use with friends.

1. Google Wallet:

Google Wallet is very similar to Apple's Apple Pay, allowing you to link cards to the service and pay by waving your phone over a card reader. However, what makes Google Wallet stand out is that it's available across platforms, meaning you can easily pay in-store, then send money to your friend's iPhone from inside the same app.