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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now