Payments Source

JUNE 12, 2017

This morning the bank owned P-to-P network, Zelle, is formally going live, enabling direct transfer of funds across thirty U.S. There are a lot of questions around whether it can compete with the current kings of P-to-P — Venmo and its parent company PayPal — but Zelle may not be aiming to take them head-on just yet.

Zelle 60

Zelle Venmo PayPal Mobile Banking 60

PYMNTS

OCTOBER 15, 2018

It’s the start of the new earnings season, and Bank of America , among the first companies out of the gate, set a positive tone Monday (October 15) when it released its third-quarter financials — a report that showed mobile banking growth, along with other gains. The number of mobile banking users increased 10 percent, to 25.9

Zelle 53

Zelle Posting Mobile Banking Credit Cards 53

PYMNTS

JULY 17, 2019

Zelle P2P payments increased 79 percent year-over-year (YoY) in the second quarter of 2019, Bank of America said Wednesday (July 17), signaling the latest burst of growth for that payment method. During that quarter, consumers made 69 million payments worth $18 billion via Zelle. In all, Bank of America now has 37.3

Zelle 47

Zelle Online and Mobile Banking Debit Card Payments 47

PYMNTS

JUNE 15, 2018

With Zelle projected to overtake Venmo , eMarketer expects the payment service to grow more than 73 percent this year. The firm is projecting that Zelle will reach 27.4 But Zelle has leapfrogged the early stages of adoption by having the benefit of being embedded into the already existing apps of participating banks.”.

Zelle 43

Zelle P2P Venmo Volume 43

PYMNTS

OCTOBER 16, 2019

Zelle P2P payments increased 76 percent year-over-year (YoY) in the third quarter of 2019, Bank of America said on Wednesday (Oct. billion using Zelle. In its Q3 financial release , Bank of America also gave updates on its mobile and digital efforts. million active mobile banking users.

Zelle 46

Zelle Online and Mobile Banking P2P Debit Card 46

PYMNTS

SEPTEMBER 1, 2020

1) rolled out a new, no-overdraft-fee banking account aimed at consumers new to banking or who want help managing their expenses, with access as well to Zelle, a digital payments service. bank account, the bank noted in its announcement. Wells Fargo on Tuesday (Sept.

Digital Payments 93

Digital Payments Accounts Zelle Online and Mobile Banking 93

PYMNTS

JULY 17, 2018

The Q2 earnings season has just kicked off, and it’s already helping shedding light on recent developments in the peer-to-peer (P2P) world — most notably, the shape of the ongoing competition between Zelle and Venmo. The good news about Zelle came earlier this week when Bank of America (BoA) released its second-quarter financials.

Zelle 40

Zelle Venmo P2P Privacy 40

Fintech Finance

MARCH 27, 2024

Keynova Group , the principal competitive intelligence source for Mobile Banking Payments firms, has announced the results of the Q1 2024 edition of its semi-annual Mobile Banker Scorecard. Bank continued its winning streak, ranking No. mobile bank offerings. And Bank of America and U.S.

Mobile Banking 52

Mobile Banking Transactions Online and Mobile Banking RTP 52

The Paypers

MAY 31, 2021

Bank of Hawaii has announced that Zelle is now available to Guam and Saipan customers in its mobile banking app, bringing residents a person-to-person payment option.

Zelle 37

Zelle Mobile Banking Payments 37

PYMNTS

JANUARY 18, 2019

Bank earnings this week gave us a bit of insight into the momentum gained by bank-backed P2P payment network Zelle in 2018. For example, Bank of America reported on Wednesday (Jan. 16) that Zelle payments were up 97 percent in Q4 2018, signaling the latest burst of growth for that payment method.

Zelle 63

Zelle P2P Online and Mobile Banking Venmo 63

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

PYMNTS

JUNE 20, 2018

In addition, Athanasia said that the bank has enhanced its mobile app with Zelle. But, in terms of branches, the bank seeks to grow its physical footprint in new markets such as Denver, Indianapolis, Minneapolis and Salt Lake City.

Mobile Banking 60

Mobile Banking Innovation G2C Payments 60

PYMNTS

JANUARY 21, 2021

One common theme amid bank earnings — beyond lofty trading revenues gleaned from Wall Street — has been the increased uptake of mobile banking. Stats from banks, pretty much across the board, have given evidence that consumers have been pivoting to their mobile devices to attend to their everyday financial needs.

Online and Mobile Banking 101

Online and Mobile Banking Credit Union Mobile Banking CBDC 101

PYMNTS

OCTOBER 5, 2017

In June, more than a dozen banks and credit unions made P2P mobile payments available through Early Warning’s Zelle platform, which was previously operated by a group of banks under the name clearXchange. Another 17 financial institutions are planning to connect to the Zelle platform in the future.

Zelle 40

Zelle P2P Credit Union Venmo 40

PYMNTS

MAY 13, 2019

Perhaps the biggest story in P2P, though, is the ongoing battle between P2P providers Zelle (operated by Early Warning Services ) and Venmo (owned by PayPal ). During Q1 2019, Zelle sent $39 billion through its network via 147 million transactions, the company said in a news release. P2P Impacts.

P2P 79

P2P Zelle Venmo Debit Card 79

The Paypers

JUNE 1, 2020

Arvest Bank has announced the availability of Zelle in its online banking and mobile app platforms.

Zelle 28

Zelle Mobile Banking Online and Mobile Banking 28

Payments Source

MAY 10, 2018

The irony of the explosive growth of mobile P2P is this: As consumers get more comfortable with paying one another through mobile devices, they're thinking of P2P less as a service that one should find within a bank's app.

Zelle 68

Zelle P2P Consumer Mobile Banking 68

PYMNTS

JULY 16, 2018

The company also stated that last year’s well-publicized tax reform has given Bank of America about $500 million to deploy through the next few quarters, earmarked for technology. Looking at the digital side of the business, mobile banking users were up 11 percent year on year to 25.3 The total digital user count was 35.7

Zelle 42

Zelle Non-Bank Credit Cards Volume 42

PYMNTS

APRIL 18, 2017

Early Warning Services, a real-time payment, authentication and risk mitigation company, announced Monday (April 17) that financial institutions in the Zelle Network processed more than 170-million person-to-person (P2P) payments in 2016, totaling $55 billion in aggregate transaction value. Bank of America, U.S.

P2P 40

P2P Zelle Transactions Process 40

PYMNTS

MAY 10, 2018

In a press release , the bank said customers can select their most commonly used payment method, including Zelle , mobile wallets, Card-Free ATM Access code and transfers, without having to sign into the app. Wells Fargo said its the first phases of a longer-term overhaul of its mobile banking services.

Zelle 58

Zelle ATM Non-Bank Mobile Banking 58

PYMNTS

NOVEMBER 2, 2016

1) a strategic alliance that will enhance the security of real-time payment services within the mobile channel by leveraging the advanced device intelligence capabilities of InAuth’s InMobile solution. In a press release , the companies said Early Warning just announced Zelle, a new, faster payments network that will revolutionize how U.S.

Zelle 62

Zelle Real Time Payments Authentication Risk Mitigation 62

Payments Source

JANUARY 17, 2018

Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process. The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts.

Zelle 63

Zelle Near Real-Time Enrollments Transactions 63

PYMNTS

JANUARY 30, 2019

Earlier this month , Bank of America said that its Zelle P2P payments increased 97 percent in the fourth quarter of 2018, signaling the latest burst of growth for that payment method. During that quarter, consumers made 52 million payments worth $14 billion via Zelle. In all, Bank of America now has 36.3

Zelle 56

Zelle Online and Mobile Banking P2P Enrollments 56

PYMNTS

JUNE 19, 2020

The rise of contactless and digital transactions, banking apps and various payments service providers has also shaped a payments landscape that can best be described as fragmented. In that country, PayIDs debuted two years ago as part of Australia’s New Payments Platform tied to mobile banking and apps.

P2P 106

P2P Bank Routing Number Payments ATM 106

FICO

DECEMBER 4, 2017

Not a mobile payment, Venmo or Zelle, PayPal or Cashbot was in sight. Seeing the flutter of sawbucks gave me a flashback to one of my first payments memories, from the early 1980s, when the Connecticut Bank and Trust Co. Most notable here is Zelle, a Venmo competitor backed by a coalition of 30 banks.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

PYMNTS

JANUARY 1, 2021

Banks will need to seriously revamp their in-branch experiences to accommodate the new normal as customers are growing used to the unparalleled convenience and speed that mobile banking has to offer. Preventing Financial Crimes. We also have warning messages that remind people to only send money to people they know and trust.”.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

Payments Source

JANUARY 12, 2018

Fast growth in use of the bank's instance of the person-to-person payments product indicates it could one day rival Venmo.

Venmo 63

Venmo Zelle Payments Product 63

PYMNTS

JANUARY 15, 2020

Zelle peer-to-peer (P2P) payments increased 76 percent year-over-year in the fourth quarter of 2019, Bank of America said on Wednesday (Jan. billion using Zelle. In its Q4 financial release , Bank of America also gave updates on its mobile and digital efforts. As it stands, Bank of America now has 38.3

Zelle 52

Zelle Online and Mobile Banking Debit Card P2P 52

PYMNTS

APRIL 4, 2019

According to a recent study by Citibank , 31 percent of consumers use their mobile banking app more than any other — placing mobile banking behind only social media and weather for most frequented mobile destinations.

Mobile Banking 67

Mobile Banking Non-Bank Zelle Security 67

FICO

AUGUST 26, 2021

“Do you Zelle?” It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). The second most popular app, Venmo, was used by 14% of consumers in 2020.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

FICO

APRIL 29, 2022

Let’s take a look at the current state of affairs, and how consumers and banks can fight back. Will Zelle Join Apple Pay, GooglePay and Credit Cards at Point of Sale? Zelle is one of the country’s most widely used money transfer services. Scammers Exploit Zelle and Cryptocurrencies. That $490 billion in 2021 comprised 1.8

Retail Payments 52

Retail Payments Zelle Romance Scams Consumer 52

The Fintech Times

JULY 22, 2024

Examples include quick onboarding processes and digital payment networks like US Zelle which was initiated and supported by major US banks. This trend helps them to serve their customers more efficiently and effectively by meeting their needs more promptly.

Adjustments 118

Adjustments Online and Mobile Banking Financial Inclusion FinTech 118

PYMNTS

APRIL 30, 2019

In commentary on the call, Yabuki said, “increasing digital engagement is a priority for us,” and noted that Mobiliti, the mobile banking platform, saw greater than 20 percent growth year over year to 8.5 million subscribers.

Zelle 68

Zelle Adjustments Debit Transaction Payments 68

PYMNTS

NOVEMBER 4, 2019

For starters, Zelle ’s Q3 results show that its year-over-year payment values increased by 58 percent, while transaction volumes rose by 73 percent. In addition, Early Warning Services, the network operator behind Zelle, announced that $49 billion was sent through the Zelle network on 196 million transactions during Q3 2019.

P2P 40

P2P Zelle Venmo Consumer 40

PYMNTS

JULY 7, 2017

The July PYMNTS.com Faster Payments Tracker™, powered by NACHA, highlights notable developments from across the faster payments landscape, including the debut of Early Warning System’s Zelle Network and how P2P payments could soon be distributed using voice commands. mobile banking consumers to use the platform’s P2P service.

Faster Payments 47

Faster Payments NACHA Federal Reserve Zelle 47

PYMNTS

JULY 16, 2020

The bank boosted reserves even as the firm’s active mobile banking users rose 9 percent to 30.3 Active digital-banking users likewise grew 5 percent to 39.3 million during the quarter.

Online and Mobile Banking 57

Online and Mobile Banking Zelle Debit Card Mobile Banking 57

PYMNTS

NOVEMBER 6, 2019

P2P payment network Zelle’s Q3 results show its year-over-year payment values rose by 58 percent, while transaction volume increased by 73 percent. During the quarter, $49 billion was sent through the Zelle Network in 196 million transactions. billion using Zelle — and that number is expected to grow as we head into the 2020s.

P2P 42

P2P Zelle Venmo Debit Card 42