PYMNTS

JANUARY 24, 2019

Zelle, traditional banks’ answer to Venmo and Paypal, continues to grow in usage, not only with customers but with banking institutions as well, according to reports. Zelle’s operator, Early Warning Services, reported a Q4 payment volume of $35 billion, which is up 12 percent from Q3 and 61 percent from a year before.

Zelle 69

Zelle Volume Process Venmo 69

PYMNTS

FEBRUARY 1, 2019

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle. users by year’s end, behind Zelle’s 27.4 Zelle Bank Gains.

Venmo 71

Venmo P2P Zelle PayPal 71

Fi911

AUGUST 1, 2023

This is distinct from other customer-centric payment services like Venmo or Zelle in that its implementation hinges on the adoption by banking institutions. This is the inaugural real-time payment system from the US central bank. FedNow is accessible to all banks and credit unions. What is FedNow?

FedNow 52

FedNow Federal Reserve Instant Payments Zelle 52

PYMNTS

JULY 7, 2017

The new bank partnerships come as the company recently announced new features coming to Apple Pay during its worldwide developers conference in June. With mobile pay, Apple is now directly competing with PayPal, PayPal-owned Venmo, Square Cash and popular bank services like Chase QuickPay and Zelle.

Credit Union 41

Credit Union P2P Online and Mobile Banking Zelle 41

PYMNTS

MARCH 27, 2019

In a podcast with Karen Webster, Derek Swords, vice president of product management and electronic payments at Fiserv , pointed to the rise of Zelle , the P2P offering that logged $35 billion in payments volume in the fourth quarter of last year, up 61 percent year on year and 12 percent sequentially.

P2P 61

P2P Zelle Use Case Faster Payments 61

PYMNTS

AUGUST 10, 2020

In addition, he continued, FIS has brought its first bank onto the platform, and shortly 400 banks will have access to RTP. With the combined exposure through JHA, FIS, Corporate One Credit Union and others, Waterhouse estimated that RTP will reach 70 percent of the financial services market before the end of the year.

Real Time Payments 138

Real Time Payments RTP TCH Federal Reserve 138

PYMNTS

MAY 27, 2020

“We saw things like digital interactive teller utilization going up by 550 percent, for example,” he told Webster, “and online and mobile banking spiking 300 percent to 400 percent in many instances.”. He noted that P2P payment volume moving across Zelle exploded, taking mere weeks to top what had previously been annual volumes.

FinTech 94

FinTech Online and Mobile Banking Innovation FDIC 94