PYMNTS

APRIL 24, 2019

Digital payment company Zelle sent $39 billion through its network on 147 million transactions during the first quarter of this year, the company said in a news release. This past quarter Zelle achieved several milestones toward our goal of nationwide ubiquity,” said Lou Anne Alexander, group president of payments solutions at Early Warning.

Zelle 61

Zelle Payment Networks Process Venmo 61

Clearly Payments

OCTOBER 31, 2024

Popular Providers : PayPal, Alipay, and Apple Pay lead the market, with PayPal alone reporting over 430 million active accounts worldwide as of 2023. Popular Examples : Interac e-Transfer (Canada) , Zelle (U.S.), Faster Payments (U.K.), PayID (Australia), and UPI (India). handled $1.6 per transaction or free for some users.

Online and Mobile Banking 98

Online and Mobile Banking RTP BNPL Debit Card 98

Tearsheet

APRIL 22, 2024

Visa introduced the Visa+ service in April last year to bridge the gap among various apps in the peer-to-peer (P2P) payments space, allowing for real-time payouts to participating digital wallets. At the time, Visa+ outlined plans to make the service widely available to Venmo and PayPal users in the US by mid-2024.

Venmo 98

Venmo PayPal Payment APIs and Integration P2P 98

Payments Source

OCTOBER 23, 2018

The Zelle network processed 116 million transactions during the July-September 2018 timeframe with a total value of $32 billion in payments.

Zelle 68

Zelle Volume P2P Transactions 68

PYMNTS

OCTOBER 23, 2018

The third quarter proved more than kind to P2P payments , at least according to financial results for the two main competitors, Zelle and Venmo , which continue to duke it out for market share and consumer loyalty — and doing so as another big digital player prepares to debut a P2P offering. Zelle Enrollment Boost.

Zelle 43

Zelle Venmo P2P PayPal 43

PYMNTS

JULY 26, 2018

Venmo , the P2P service owned by PayPal , took in more than $14 billion in payments volume during the second quarter of 2018, a 78 percent year-over-year increase. Company officials also seemed pleased with their efforts to introduce more revenue-attracting services to Venmo — a positive sign for the spread of P2P payments as a whole.

Zelle 42

Zelle Venmo P2P PayPal 42

PYMNTS

OCTOBER 8, 2018

PYMNTS research found that 51 percent of full-time gig workers prefer to be paid via PayPal , which outranked all other forms of payment, including direct deposit. The Ubiquity (And Certainty) Of PayPal. However, the same can’t be said of PayPal. Until that changes, it’s likely that the preference for PayPal will remain.

Direct Deposit 67

Direct Deposit PayPal Wire Transfer Zelle 67

PYMNTS

NOVEMBER 25, 2019

PayPal and Discover have joined forces to allow customers to use the credit card’s Cashback Bonus or Miles to buy things through PayPal, according to a Monday (Nov. Our customers loved seeing PayPal added to this year’s categories in the 5% Cashback program. 25) press release. .

PayPal 60

PayPal Zelle Online and Mobile Banking Enrollments 60

PYMNTS

AUGUST 16, 2018

Zelle , the digital payment app that enables consumers to send money to friends and family, is gearing up to expand its offering to enable customers to pay small businesses. Zelle is backed by Bank of America, JPMorgan Chase and other banks. Bloomberg, citing Crone Consulting, reported that P2P payments to businesses in the U.S.

Zelle 50

Zelle Small Business Business Payments P2P 50

PYMNTS

OCTOBER 3, 2016

Citibank Joins The P2P Party. Citibank has officially joined the Zelle (formerly known as clearXchange) partnership — the team of banking rivals that already includes Wells Fargo, JPMorgan Chase, Bank of America, and U.S. And given the current scope of PayPal’s ambitions, assume it will be ready when Zelle gets here.

PayPal 64

PayPal Zelle Venmo P2P 64

PYMNTS

AUGUST 14, 2019

Peer-to-peer (P2P) payments are blazing a hotter path in the digital economy as the second half of 2019 gets underway – and there is fresh evidence that the payment method is not only growing, but helping to influence related endeavors. Zelle Trends. Venmo, of course, is not the only major P2P player in the game. Venmo Trends.

P2P 49

P2P Zelle Venmo RTP 49

FICO

MAY 1, 2020

I’m not big on reading tabloid confessions at the grocery checkout, but as a payments professional, I have a shocking admission to share: I am a late bloomer in adopting mainstream person-to-person (P2P) payment apps like Venmo, Cash App (owned by Square), Snapcash and a slew of others. Why P2P Payments Need Fraud Protection.

P2P 69

P2P Venmo Online and Mobile Banking PayPal 69

Bank Automation

JANUARY 29, 2024

P2P payment market size is expected to reach $6.4 consumers have P2P accounts, according to a […] The peer-to-peer payments market is growing as consumer demand ticks up and new competitors enter the space. billion by 2028, according to a January report by market research group The Business Research Co.

P2P 80

P2P Research Consumer Accounts 80

PYMNTS

OCTOBER 5, 2017

The fight for dominance in the person-to-person (P2P) payments market has escalated over the past few weeks, with banks and credit unions rolling out a new service to help them compete with newer FinTech companies. Another 17 financial institutions are planning to connect to the Zelle platform in the future. The Standalone Strategy.

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Zelle P2P Credit Union Venmo 40

PYMNTS

OCTOBER 4, 2017

PayPal-backed platform Xoom, for example, recently launched a new service that quickly processes high-value remittance transactions, a feature that could help Indian citizens living overseas quickly transfer money back home to family and friends. Seeking P2P Payments Domination, Zelle Seeks to Deliver Instant Gratification.

Zelle 40

Zelle P2P Same Day ACH NACHA 40

PYMNTS

JUNE 25, 2019

Peer-to-peer (P2P) payments continue to gain popularity among consumers, with two of the biggest providers, Zelle and Venmo, reporting ongoing and significant gains. P2P and Millennials. P2P Growth. The payment receiver may not be connected with a bank that has integrated with Zelle.

P2P 46

P2P Venmo Zelle Law Enforcement 46

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

PYMNTS

APRIL 9, 2019

The new Disbursements Tracker highlights recent efforts by businesses, banks and government agencies to improve payment practices by delivering on consumers’ speedy expectations, and how th e rise of peer-to-peer (P2P) services like Venmo and Zelle are raising the disbursements bar. Around the World of Disbursements.

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Venmo Zelle P2P Push-to-Card 75

PYMNTS

JULY 21, 2020

A need for faster and easier ways to pay during the pandemic has quickly made peer-to-peer (P2P) payment apps popular among U.S. This month’s Deep Dive examines the ways that bad actors try to exploit P2P payment app users via scams and account takeovers (ATOs). Fraudulent Sellers. Account Theft.

P2P 60

P2P Scams Security Account Takeovers 60

EBizCharge

JULY 24, 2024

From the simplicity of splitting a meal cost to scrambling for a wallet-less solution at a flea market, peer-to-peer (P2P) payments offer a modern alternative to traditional cash and check systems. Understanding the mechanics of P2P payments is crucial for businesses looking to stay ahead in the increasingly cashless marketplace.

P2P 52

P2P PCI DSS Encryption Fraud Prevention 52

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

NOVEMBER 4, 2019

P2P payment services are stretching their wings, headed into the new decade with mostly robust growth – and even some new plans to gain customers and keep a tight hold on existing consumers. 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.

P2P 40

P2P Zelle Venmo Consumer 40

PYMNTS

JANUARY 29, 2019

A good time was had by all on PayPal earnings day in 2018 as the digital payments network managed to beat Wall Street expectations in three out of three reported quarters. The question going into tomorrow’s earnings report is will PayPal go 4/4? PayPal Q3 results have set expectations high. Payments transactions were 2.5

PayPal 49

PayPal Venmo Zelle Volume 49

PYMNTS

MARCH 29, 2019

Demand for instant and peer-to-peer (P2P) payments is heating up, and financial institutions (FIs) are seeking to cater to that need, knowing that if they don’t, their customers are likely to turn elsewhere. Early Warning Service ’s Zelle appears to be taking off in the U.S. At present, about 5,100 FIs offer Zelle. In the U.S.,

Faster Payments 71

Faster Payments Zelle P2P Instant Payments 71

PYMNTS

FEBRUARY 27, 2017

Walmart showed some early results to goose the gas on eCommerce, which is starting to help the company gain some ground back on Amazon; Zelle is now open for business and coming for Venmo; and Alibaba made its latest big brick-and-mortar play. Zelle Is Officially Out There. Walmart’s Winning Results. It processed $17.6

Zelle 40

Zelle Venmo Online and Mobile Banking P2P 40

Fintech Review

MAY 21, 2024

Peer-to-Peer Payment Systems: Simplifying Transactions Peer-to-peer (P2P) payment systems simplify the process of transferring money between individuals. Apps like PayPal, Venmo, and Zelle allow users to send money instantly using just an email or phone number. P2P platforms are not just convenient; they are also cost-effective.

Digital Payments 97

Digital Payments Transactions FinTech Cryptocurrency 97

PYMNTS

SEPTEMBER 17, 2018

Zelle hadn’t yet reached this small bank, and the instructions for how to enable that deposit weren’t clear enough for he or his bank to navigate. He has a PayPal account, so that’s how I’ll pay him today. Or to buff up PayPal. The outcome, however, using PayPal , is more certain for both the sender and the receiver.

Rules 78

Rules Zelle Payments PayPal 78

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). P2P real-time transactions. COVID Has Given a Permanent Boost to Real-Time Payments?

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

AUGUST 19, 2019

Venmo Steps up Its Game Against Zelle. PayPal-owned Venmo hit 40 million active users in Q1 of 2019. But Venmo faces active and aggressive competition in the form of bank-backed P2P payments service Zelle. Venmo is using the JPMorgan connection to the TCH RTP rails to enable the instant account-to-account transfer option.

Venmo 51

Venmo Zelle P2P Underwriting 51

PYMNTS

APRIL 30, 2018

Zelle’s Security Blues. Zelle, according to some reports, has hit a bit of a security speed bump as stories emerged that hackers have used the service to clean out users’ bank accounts. The main problem at hand, according to the NYT report, is that Zelle does not always notify customers when money is transferred.

Zelle 40

Zelle FTC Federal Trade Commission P2P 40

PYMNTS

JUNE 6, 2017

All eyes were on San Jose today as Apple kicked off its annual Worldwide Developers Conference (WWDC 2017) and gave the world its first preview of its 2017 roadmap, its Amazon Echo killer, the HomePod, and its Venmo killer, P2P payments via iMessage. Apple P2P Payments (and iOS 11). Should those providers be losing sleep? Probably not.

P2P 43

P2P Venmo PayPal AI 43

FICO

DECEMBER 4, 2017

Not a mobile payment, Venmo or Zelle, PayPal or Cashbot was in sight. For example, during the second quarter of 2017, the dollar value of mobile payments processed by PayPal rose 50% year over year , to about $36 billion. Peer-to-peer payments made with PayPal’s Venmo app more than doubled to $8 billion, year over year.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

PYMNTS

AUGUST 25, 2016

Can the biggest banks in the United States catch up to the millennial-beloved Venmo with their own P2P payments app? They’re sure hoping so and are putting their product, reportedly called Zelle, out for public consumption in October. Why choose Zelle for a name — other than the obvious Zelle-on-Earth puns?

Venmo 42

Venmo Zelle P2P Fraud Prevention 42

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

DECEMBER 6, 2016

KW: One of the big news items over the past month is Zelle and its instant payments network. What do you think about P2P from a banking perspective? Early Warning and clearXchange is a piece of that, the card rails are a piece of that, faster ACH is a piece of that — I think 2017 is going to be the year of P2P. .

Innovation 76

Innovation Online and Mobile Banking Zelle Venmo 76

PYMNTS

JANUARY 31, 2019

PayPal kept its 2018 earnings beat streak alive, notching its fourth consecutive earnings beat with its Q4 results announcement yesterday (Jan. PayPal posted $4.23 PayPal posted $4.23 PayPal had a similar revenue miss for the full year — with $15.45 Schulman also reported that 21 million merchants now accept PayPal.

Venmo 58

Venmo PayPal Volume Zelle 58

PYMNTS

JULY 23, 2018

And this week, Prime Day, Google and Zelle were the best candidates for wins, losses and score-equalizers on the week. It looks like Zelle is living up to its namesake animal, the gazelle, and is running quickly to catch up to P2P segment leader Venmo. In 2017, the bank represented a third of all Zelle transactions.

Zelle 40

Zelle Venmo P2P Online and Mobile Banking 40