Payment processors nearing low fee to no fees; Circle pay vs Google pay

There is no gainsaying the fact that money can turn the situation of things around. Whether you want to send money to your parents, or you simply want to pay your rent, an easier way to achieve that is by transferring the money at the comfort of your home.  And now with Blockchain technology and wallets, peer to peer transactions can be done at zero cost.

Since the evolution of internet and technology, sending money to friends and family is now a bit easier with several options. PayPal is touted to be the largest payment processor globally; however, it is certainly not the only payment merchant that enables sending of money. There are others like Google pay, Venmo – which is rising in popularity, and not to forget Square Cash, which is obviously built by Square to compete favorably with its counterparts. Also, there is a new entrant into the market which we cannot forget, Apple Pay Cash.


Circle pay is a mobile app for sending and receiving payment irrespective of location. It leverages on the peer-to-peer technology to seamlessly process a fast transfer of payment. It was founded in October 2013 by the duo of Jeremy Allaire and Sean Neville. This app allows users to pay, hold, and send local fiat-based currency.

As shown in the table, it is free to use the debit card and bank transfer features. It has a fast processing speed when sending money to third parties. You can link your credit or debit card to this app for effective depositing of cash. Also, the transfer limit per week is $3000. However, it is based on a request. The requested feature is available when you hover around the “setting”.

Recently, it was reported that Circle pay acquired Poloniex. Poloniex is reputed to be among the top-20 cryptocurrency exchanges in the United States. The deal was brokered in early February, however; the company did not make the new public. The deal got the knowledge of the public via “modern Consensus”, a blockchain news blog.  The company later confirmed the deal, giving it a price tag of $400 million.


Which of these payment processors is best for you? We have put them in a tabular form for you to make the decision.

  Circle Pay Google Pay Venmo Square Cash Apple Pay Cash
Compatibility Android, iOS, Web Android, iOS, Web Android, iOS, Web Android, iOS, Web iOS
Payment methods Credit, Debit, Bank transfer Credit, Debit, Bank transfer Credit, Debit, Bank transfer Credit, debit card Credit, debit card
Credit fee 2.9% + $0.30 2.9% 2.9% 3% 3%
Debit fee Free Free Free (25 cents for instant transfer) Free Free
Bank transfer fee Free Free Free N/A N/A
Withdrawal speed Up to 1-2 business days Up to 1-3 business days Up to 1 business day Up to 1 business day Up to 1-3 business days
Transfer limit $3000/week $9,999 $3,000 $2,500 $3,000
Special features Fast processing speed Integration with other Google services Quick transfers to banks No need to set up an account Automatically available in iOS



Google has two payment processors streamlined into a single merchant known as Google pay. The Google pay app is a mobile money transfer app that leverages on peer-to-peer technology. As shown in the table above, this app is cheapest payment processor, and you won’t pay any fee to use your debit card or use the bank transfer feature. However, you will pay a fee of 2.9% when using credit cards. You can use it to transfer funds to the tune of $9,999.

Worthy of mentioning is the recent partnership between Google pay and Ripple, a fast-rising cryptocurrency. Ripple is reputable for partnering with companies in China, India, and Brazil with a view to improving its products and services. The partnership between Google pay and Ripple will see more smartphone users adopting the service due to its affordability, when compared to industry giant, Apple.

The Google pay app is outstanding because it integrates its services with other Google services.  For instance, when using Gmail, you can simply request for money just by pressing the dollar sign that is located under a message in the toolbar. In addition, you can send money via the Android messages, and it will appear on your Google pay app. One unique feature of this app is the ease of unlocking the app with your face ID or fingerprint sensor.

When sending money to your local bank, it will take at least 3 business days. However, sending payment to a debit card will be instant.



Each of these payment processors has its own unique feature depending on your needs. Android and Google users may find Google pay app fantastic for them. For those who desire to send money to their family member instantly can either go for Circle pay or the Venmo processor.  If you don’t have time to start filling a form for an account, then a perfect fit for you is the Square Cash. You can’t really make a mistake choosing any of them, as all the payment processors listed above are great at what they do.