What is the best instant digital payment for wholesale payments between $200-10K.« Back to Questions List

I agree Venmo is marketed more as a P2P platform. However, I use it to pay some of my vendors, especially the small one-man shops or guys with a side hustle and no formal business entity. PayPal tends to be a platform where Customers can buy from vendors. PayPal is great if you have no prior relationship with the other party. There are two other options, Stripe and Zelle. I use Stripe when I want a client to pay fast. I can send email invoices to clients so they can pay by just hitting a button in the email. Since it is harder to just add the Stripe invoice to an accounts payable account, like when I would send them a .pdf invoice where they may take 30 days or more days to pay, they often pay using a company credit card on the same day the email invoice gets there. You do end up having to cover the transaction fees like any credit card purchase. Once the funds are in your Stripe account, there are two options to get the funds to your bank account. One is instant but includes a small fee, and the other is free, but it takes a few days. And then there is Zelle. Zelle is a bank-to-bank exchange. Almost every bank offers it, and It is fast and free.