Square Cash
Over at The Sweet Setup, Square Cash was chosen as the best peer-to-peer payment system. It's simple, uncluttered interface, has a fast setup, and includes solid security features. Services like this come in handy when out to dinner, going to the movies, or buying concert tickets. Instead of having to get cash or write a check, Square Cash makes it dead simple to send money (and without a fee) to friends.
You can read the entire review over at The Sweet Setup. Square Cash can be downloaded on the App Store for free.