In this illustrated photo taken in Krakow, Poland, you can see the Zelle icon displayed on the screen of your phone and the Zelle logo displayed on the background.
jakub porzycki | Parenting | Getty Images
cella payment network operated by bank-owned early warning services spanned $1 trillion last year, the most ever for peer-to-peer platforms.
The company said Wednesday that its user base jumped 12% to 151 million accounts in 2024, and the total dollar on the platform jumped 27% from a year ago.
Zelle general manager Denise Leonhard told CNBC that the payment volume last year was “the most money ever in P2P payment service”.
Zelle launched in 2017 in response to fintech platforms like Venmo PayPal and CashApp, there are some key advantages over these players. EWS is owned by seven largest banks in the United States, including JPMorgan Chase,,,,, Bank of America and Wells FargoZelle allows instant remittances in applications across thousands of member agencies.
The growth rate exceeded Paypal’s growth rate last year, which Report The total payment volume of P2P reached more than US$400 billion.
Zelle’s rapid rise Accusation The network and the three major U.S. banks have failed to properly investigate fraud complaints or reimburse victims. The company has taken measures to reduce fraud and said 99.95% of transactions are free of fraud and scams.
As bank customers increasingly use Zelle instead of cash or checks, growth is driving, and as small businesses adopt payment methods, Leonhard said.
“People are using Zelle to do things like paying rent or paying for babysitters,” Leonhard said. “We want to continue to make these consumers available every day.”
