Scottsdale, AZ

 

Zelle® Returns to Money20/20 with a Surge in Network Payments. A year after its unveiling at Money20/20, Zelle returns to the “Ball” with significant momentum behind its banking industry-led, real-time mobile payments network...

In the first six months of 2020, $133 billion on 519 million transactions was sent through the Zelle Network®. Read how consumers used Zelle® to share costs for utilities, pay rent, give gifts, send charitable donations, and money to friends and family in need as well as receive disbursements

Scottsdale, AZ, February 2, 2021 – Early Warning Services, LLC, the network operator behind Zelle®, today announced record payment volume and value in 2020 with 1.2 billion transactions, totaling $307 billion sent — an increase of 58% and 62% year-over-year, respectively. Four hundred and fifty-seven new financial institutions also joined the Zelle Network® in 2020.

"Today, more than 1,000 banks and credits unions are currently contracted to participate on the Zelle Network®, including 731 that are live today and processing transactions,” said Al Ko, CEO of Early Warning Services, LLC.

More than half of consumers sending money withZelle® are ages 25-54, part of both the Millennial and Generation X demographics, while boomers, ages 55- 72, have recently increased their overall use of Zelle®.

Let’s dive into the wild story of several elderly individuals’ trust being shattered after choosing ‘A Superior Option' for care and financial assistance.

Zelle®, in partnership with EVERFI, the leading social impact education technology company, today launched “Money Moves: Modern Banking & Identity Protection™”. The free digital education course, available to high schools across the United States.

Learn how to help protect your organization against payment fraud and stay compliant with the Nacha WEB debit rule change.

In Q4 2019, the Zelle Network® processed 230 million transactions, totaling $56 billion in money sent — an increase of 14% and 17% quarter-over-quarter, respectively.

Real-time settlement of Zelle® transactions on the RTP® network enables expanded uses cases and increases efficiency of P2P, small business and disbursement payments for participating financial institutions; PNC Bank and U.S. Bank first to pilot the integration

Banks that are elevating customer experience are making it easier to open accounts, transfer money, and make digital payments that are contactless — all while keeping fraud at bay.

According to the latest Zelle® data, more than one third of adults, aged 55-74, shared they are concerned about their risk of being targeted by financial scams or fraud.