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Online & Mobile Banking

Zelle announces USD 119 billion in payments for 2018

Friday 25 January 2019 | 11:09 AM CET

Early Warning Services, the network operator behind Zelle, has announced USD 119 billion in payments on 433 million transactions processed in 2018.

In 2017, the Zelle Network processed 247 million payments for USD 75 billion. As a result the mobile payments platform closed the year with its strongest quarter on record with USD 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 can be connected also with the large number of participants in the Zelle Network - 229 financial institutions, 60 of which are live and processing transactions.

Zelle is not just for large national banks. 85% of participants in the Zelle Network are regional and community banks or credit unions. Together, participants are helping more than 100-million consumers replace checks and cash for the convenience and speed of person-to-person (P2P) payments.

More: Link
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