Payments News

On The Web

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Companies

Zelle Forecast To Overtake Venmo This Year

“Despite some concerns over its adoption by scammers, new payment service Zelle is shaping up to overtake rival Venmo this year, according to a new forecast from eMarketer. The firm expects Zelle  to grow more than 73 percent in 2018, to reach 27.4 million users in the U.S., ahead of Venmo’s 22.9 million. Square Cash will trail with 9.5 million users. […]
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Companies

BofA Trumpets Success With Erica, Zelle

“Bank of America has announced that Erica, its artificial intelligence-driven virtual financial assistant, now has more than 2 million users. According to a press release, this is more than double the number of customers using the technology less than a month ago. And that’s not BofA’s only recent mobile milestone: The number active users of the Zelle person-to-person payment […]
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On The Wires

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Companies

Zelle Study Finds Growing Use Of Digital Payments Across Generations

“The study found that adoption and usage of digital person-to-person (P2P) payments are high among all generations, with consumers pointing to trust in friends and family and trust in their financial institutions as the primary reasons for engaging in a digital payment. Boomers ranked trust in financial institutions as the most important influence on engaging […]
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Companies

Zelle® Ends 2018 with its Strongest Quarter on Record

“Zelle closed the year with its strongest quarter on record with $35-billion in payments on 135-million in transactions processed – an increase of 12% and 19% quarter-over-quarter, respectively. Year-over-year payment value (4Q 2017 to 4Q 2018) increased by 61%, while transaction volume increased by 81%. The results cap a successful 2018, with the number of participants in the Zelle […]
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Companies

Zelle Moves 100 Million Transactions Totaling $28 Billion In Second Quarter 2018

“In the second quarter of 2018 (April 1 – June 30), 100 million transactions took place on the Zelle Network® for a total of $28 billion in payments. Transaction volume was up 17% quarter-over-quarter (QoQ), and total money moved was up 11%. Across the entire Zelle Network, more than 67 million tokens have been enrolled. Zelle celebrated its […]
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Companies

Zelle Announces $39 Billion in Money Sent on 147 Million Transactions

“Early Warning Services, LLC, the network operator behind Zelle®, today announced $39 billion was sent through the Zelle Network on 147 million transactions during Q1 2019.  Year-over-year payment values increased by 54%, while payment volume increased by 72%. “This past quarter Zelle achieved several milestones towards our goal of nationwide ubiquity,” said Lou Anne Alexander, Group President, Payments Solutions at Early Warning. “Our […]
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Companies

Zelle Network® Announces $32 Billion, 116 Million in Payments for Q3 2018

“During Q3 2018 (July – September), 116 million transactions took place on the Zelle Network® for a total of $32 billion in payments. Transaction volume increased 16% quarter-over-quarter (QoQ), and total money moved increased 13%. Financial Institution (FI) participants contributed to an enrollment increase of 10% QoQ, resulting in more than 75 million tokens—mobile numbers or email addresses— across the […]