In the first quarter of 2018, more than $25 billion moved through the Zelle Network®, up 15 percent quarter-over-quarter (QoQ), on 85 million transactions, up 14 percent QoQ.
Zelle® is replacing cash and checks for sending gifts for birthdays to distributing funds to those in need, changing how money moves safely for millions of consumers,” said Paul Finch, CEO at the bank-owned Early Warning Services - the network operator behind Zelle. “In partnership with each of our participating financial institutions, we are educating consumers while innovating to deliver safe and secure payments.”
Zelle® enables payments from one bank account to another, typically within minutes when both consumers are enrolled, using only an e-mail address or a U.S. mobile phone number. Currently, more than 100 financial institutions have signed contracts to participate in the Zelle Network®. For consumers who bank with financial institutions that do not participate in the Zelle Network®, a Zelle® app is available in the Apple App Store and Google Play.
Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle® makes it easy, fast and safe for money to move. The Zelle Network® connects the nation’s leading financial institutions, enabling consumers to send fast person-to-person payments to friends and family with a bank account in the U.S. Funds are available directly in consumer bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and its participating financial institutions, visit http://www.zellepay.com.
About Early Warning Services, LLC
Creating the Future of Payments™ - Early Warning delivers innovative payment and risk solutions to financial institutions nationwide. For over 25 years, Early Warning has been a leader in technology that helps money move easy, fast and safe. Learn more at earlywarning.com.
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Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC.