Zelle is a new faster payments network that will enable financial institution customers to send faster person-to-person (P2P) payments to nearly anyone with a US bank or credit union account. Jack Henry & Associates, a provider of technology solutions and payment processing services primarily for the financial services industry, has offered P2P services since 2005 through iPay Solutions.
With the addition of Zelle, the company’s customers will be able to provide the Zelle Network and P2P product to their clients. iPay Consumer Bill PayTM clients will also gain the option to send and receive P2P transactions through the Zelle network. Participating financial institutions will be able to implement Zelle capabilities in 2017.
Zelle is an inclusive network that is open to all banks and credit unions in the United States. Nineteen financial institutions have already joined the Zelle Network thus far, and through Early Warning’s alliance with Jack Henry & Associates, approximately 3,000 additional financial institutions will gain access to the network. At launch, Zelle will be one of the largest faster payments networks in the US, accessible to over 76 million mobile banking users nationwide.
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