ZashPay

A new website called ZashPay promises to link people who want to pay other people directly, and without having to rely on 3rd-party players like PayPal.

 The two companies or we should say websites Pop Money and Zash Pay popped up just a year ago much to the relief of former Paypal users. The websites work just like the former and you can transfer funds simply using one’s registered mobile number or e-mail address. A major difference between Paypal is that you have to have an account with them, authorize it using your linked bank account or credit card besides transferring it to your bank account once again to withdraw funds.

 Zash Pay and Pop Money just associates your mobile number, e-mail id with your existing bank account and the created account in these websites. The money doesn’t go to the website at all but directly to the receiver or to your account when someone deposits it.

 Pros: ZashPay lets you send money via text message or e-mail. There's no 3rd-party account to fund (as there is with PayPal, for example); instead, money transfers directly between bank accounts. Account setup on the ZashPay site is free, as is receiving money. Payments of up to $500 cost only 75 cents per payment to send. 

 Cons: Creating an account involves a verification process that requires you to supply lots of personal information. ZashPay doesn't yet have as many banks on board as PopMoney--about 70 as of early October.