Almost instant peer-to-peer payments conducted in a couple of clicks allow contemporary money transfer apps to outperform conventional banking transactions in both speed and cost. Users need no specific financial data of their counterparties to send/receive money through a money transfer app: either a telephone number or a credit card number is usually enough to make a transaction. The e-wallet functions of money transfer systems are supplemented by financial reports, accounting features, notifications, currency exchange, and even earning/saving opportunities.