Visa Direct Is The Engine Behind Zelle and Venmo
Tom Groenfeldt
MARCH 15, 2019
Visa and Mastercard offer real-time payments using debit card rails? Is this a solution staring us in the face?
What's in a name for Masterpass, Venmo and Zelle?
Payments Dive
MARCH 14, 2017
Venmo has staked its claim as a verb, which says something about its ubiquity. Masterpass and Zelle? Not so much.
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Venmo, Zelle and Cash App leave users vulnerable to fraud - Manhattan DA
Finextra
JANUARY 25, 2024
Manhattan's district attorney has written to the firms behind Venmo, Zelle and the Cash App, calling on them to up their security measures in the face of growing fraud.
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Venmo Ups The Ante On Zelle
PYMNTS
SEPTEMBER 13, 2016
In the latest salvo by payments app Venmo , lobbed towards the big banks, the firm is debuting what Reuters terms a “major promotional campaign,” its first, gunning for a share of millennial wallets and mindshare. The Venmo promo campaign will run for two months, Reuters reported.
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PayPal finally reveals Venmo user count, as Zelle keeps growing
Payments Source
APRIL 24, 2019
Venmo has more than 40 million active users, PayPal has revealed for the first time. This finally gives the market a sense of how popular Venmo is, and sheds a little light on how it compares to the bank-run Zelle service.
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PNC Blocks Venmo, Tells Users To Switch To Zelle
PYMNTS
DECEMBER 16, 2019
In one example, PNC Bank clients stated that they were unable to connect accounts to Venmo , the payment service owned by PayPal. And according to tweets from PNC, the bank has suggested that those Venmo users switch to Zelle, the payments offering that is run by Early Warning Systems, in turn owned by a consortium of banks — including PNC.
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Zelle, Venmo P2P Payments Race Gains Fresh Fuel In Q3
PYMNTS
OCTOBER 23, 2018
The third quarter proved more than kind to peer-to-peer (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.
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Venmo And Zelle’s P2P Battle Royale
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. However, an estimate from late last year projected that Venmo would have 22.9
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Zelle doubles down on its un-Venmo strategy
Payments Source
OCTOBER 30, 2017
The bank-powered P-to-P app Zelle officially launched in June with a mostly consistent brand across all of its bank partners, but it still struggles with awareness over PayPal's Venmo, which doesn't share its advantage of living inside banks' mobile apps.
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Zelle breaks through to non-millennials: Half of new P2P users over 45
Payments Source
MARCH 4, 2019
The bank-run Zelle P2P network was designed without the social media-esque touches that made Venmo a hit among millennials. And as one might expect, half of all new P2P users are 45 and older.
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Zelle Processes $35B In Q4 Payment Volume
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.
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PayPal Eyes Credit To Monetize Venmo
PYMNTS
APRIL 21, 2019
Venmo, the digital payments company, is reportedly considering launching credit cards as a way to profit from its large customer base. Venmo, which is owned by PayPal, is reportedly settling on Synchrony Financial to issue the Venmo credit card. Venmo is one of the FinTechs that have been able to garner widespread adoption.
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Payment Network Zelle Processed $39B During Q1
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.
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Zelle: The Role Of AI In Stopping COVID-Related P2P Payment Scams
PYMNTS
OCTOBER 16, 2020
Fighting these threats requires an equally wide range of defenses, says Jamie Armistead, Zelle vice president. Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016.
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89 Venmo competitor Zelle wants to let you pay businesses, too
Payments Source
AUGUST 16, 2018
Zelle is working on ways to ensure that customers can safely pay small businesses as well.
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Venmo raises instant transfer fee to 1 percent amid pressure from rivals
Payments Source
OCTOBER 15, 2018
As Venmo does battle with Zelle and Square for consumers' P2P payments, one thing is clear: Innovation is not cheap.
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After building its bank base, what's next for Zelle?
Payments Source
JANUARY 29, 2018
While Zelle is working hard to become the Venmo for grown-ups, it is also pushing into retail payments, particularly in opportunities for displacement of cash and check and where funds are needed in minutes rather than days or weeks.
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Visa+ expands its availability for PayPal and Venmo users across the US
Tearsheet
APRIL 22, 2024
At the time, Visa+ outlined plans to make the service widely available to Venmo and PayPal users in the US by mid-2024. Expanding on last year’s announcement, the recent development marks the official [consumer] launch of the service with inaugural partners PayPal, Venmo, and DailyPay.
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98 US Banks Double Down On Zelle, Instant Payments Network
PYMNTS
OCTOBER 25, 2016
The Zelle instant payments network will start appearing as a mobile and digital payments option for consumers in a move that Reuters reported comes as financial firms in the United States make a bid to compete with Venmo and others firms. The firm said at Money20/20 that the Zelle offering will be offered across a single platform.
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Zelle Catches A Growth Wave, Threatening Venmo
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.
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Zelle, Venmo P2P Payments Race Gains Fresh Fuel in Q3
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. Venmo Growth.
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43 Venmo, Zelle Book Q2 Growth, Good Signs For P2P
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.
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42 Can banks' anti-Venmo succeed without social 'sharing'?
Payments Source
FEBRUARY 22, 2017
When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.
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60 Apple Pay Cash can threaten banks and Venmo, but it has work to do
Payments Source
DECEMBER 7, 2017
Apple Pay Cash is chasing peer transfer share in a maturing market, going up against long-established services like Venmo, Square Cash and the bank-powered Zelle.
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How banks are keeping up with Venmo in attracting millennials
Payments Dive
SEPTEMBER 22, 2017
Designers and developers need to consider how Zelle fits within, and complements, the bank in question’s digital experience.
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How Zelle Protects Users Against Scams And Frauds With AI, Analytics
PYMNTS
OCTOBER 19, 2020
It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans. Venmo users alone lost more than $40 million in 2018. Securing both of these risk avenues is a difficult undertaking that Zelle does not conduct alone. The Scams And Frauds Facing P2p Payment Apps.
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68 Have the Zelle banks finally found a winning formula?
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.
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PayPal CEO: Digital Payments To Be $100T Market
PYMNTS
FEBRUARY 20, 2019
He also said that PayPal’s mobile payment service Venmo — still focused on its partnership model — and digital payment peers are unlikely to be negatively affected by weak holiday sales and a global macro-economic slowdown. He said that the average Venmo transaction is about $50, and the average Venmo user transacts five times per week.
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Why PNC’s friction with Venmo is not likely to go away soon
Payments Source
DECEMBER 22, 2019
PNC Bank has made it more difficult for its customers to use Venmo, and although competition plays a role, the bigger issue is the expanding risks financial institutions face when sharing data with third parties.
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83 Zelle Eyeing Expansion Into Small Business Payments
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. The firm is projecting that Zelle will reach 27.4 more than Venmo’s 22.9
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Venmo, Zelle among trending topics in 2017
Payments Dive
DECEMBER 19, 2017
Mobile Payments Today takes a look at the top blog posts in 2017.
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68 Venmo adds Instant Transfer link to bank accounts
Payments Source
AUGUST 12, 2019
As the competition mounts to increase adoption rates for person-to-person payment apps, PayPal's Venmo is adding a way for users to quickly move money from the app to their bank account.
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73 Is Zelle finding a groove with bank customers over Venmo?
Payments Dive
SEPTEMBER 28, 2017
It was a small sample size, but participants at a consumer panel at last week's Bank Customer Experience Summit in Chicago revealed their preferences for mobile P2P services.
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76 JoomPay debuts instant P2P app in Europe
Payments Source
NOVEMBER 24, 2020
residents have in Venmo, Square Cash and Zelle. JoomPay Europe S.A. is launching a person-to-person payment app throughout Europe that it says will give consumers an instant money transfer tool similar to what U.S.
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Data Dive, Moving In And Moving On Edition: Apple, Venmo, Google And Visa
PYMNTS
AUGUST 19, 2019
There is lots of motion in the markets, with Apple officially moving into the world of being a card issuer (with mixed reviews), Venmo making moves on the bank account and Google Pay breaking up with Visa Checkout as a payments button. Venmo Steps up Its Game Against Zelle. Apple’s Expensive Card. the company said.
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Zelle reports $32 billion in P2P volume in third quarter
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.
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As P2P Payments Spreads Its Wings, Challenges Loom
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 Partnerships. P2P Impacts.
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Clearing Up Instant Payments No ‘Stop Payment’ Confusion
PYMNTS
OCTOBER 8, 2020
There is nothing Venmo can do to stop a consumer from willingly sending their money to a crook,” Edwards said. . Consider the enterprising social engineering fraudster who convinces an unsophisticated Venmo or Zelle user with a clever scam and gets the person to voluntarily send money into a crook’s account. Sender Beware. .
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122 A P-to-P model taps into anti-bank sentiment as a differentiator
Payments Source
DECEMBER 21, 2016
The growing number of P-to-P payment options, including Zelle and Venmo, typically rely on a link to a full-featured bank account to fund transfers. ChimpChange is looking at a different audience.
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The Big Banks’ Coming Venmo Killer
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?
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