Bank Automation

OCTOBER 31, 2024

said US regulators may take action against the firm over its efforts to detect suspected money laundering and sanctions violations, as well as its handling of payments on the Zelle network. may take action over money laundering, Zelle appeared first on Bank Automation News. Bank of America Corp.

Money Laundering 59

Money Laundering Zelle Due Diligence Regulations 59

Payments Dive

AUGUST 15, 2024

If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, lawyers specializing in the area said.

Zelle 122

Zelle Consumer 122

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?

Zelle 240

Zelle Venmo Debit Card Real Time Payments 240

Finextra

FEBRUARY 20, 2025

Chase has warned customers that it will start blocking payments to social media contacts through the Zelle P2P network over fraud concerns.

Zelle 111

Zelle P2P Blocks Payments 111

Finextra

MAY 5, 2024

Wells Fargo has joined JP Morgan in revealing that US authorities are investigating the handling of complaints about P2P payments service Zelle.

Zelle 105

Zelle P2P Authorization Payments 105

Payments Dive

APRIL 1, 2025

Zelle users will need to turn to their online banking portals starting today in light of Early Warning Services proceeding as planned with the shutdown of its Zelle app this month.

Zelle 78

Zelle Shutdown 78

Payments Source

SEPTEMBER 24, 2018

Zelle doesn't require a bank or credit union to participate in its network to allow it to receive funds; so even Zelle holdouts will see some activity on their accounts. This allows credit unions to compare members' demand to usage, and to determine whether signing up with Zelle is worth the tradeoffs.

Credit Union 104

Credit Union Zelle P2P On-Demand 104

Payments Dive

DECEMBER 20, 2024

The federal agency sued the operator of the pay-by-bank service as well as three bank owners, alleging they let fraud "fester" on the digital system.

Zelle 179

Zelle CFPB 179

Payments Dive

JULY 25, 2024

Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

Zelle 179

Zelle Scams Authorization Payments 179

PYMNTS

NOVEMBER 3, 2020

In today’s top news in digital-first banking, digital payments network Zelle crossed over the one-billion transaction mark, while China’s tests of a digital yuan have processed over four million transactions. Zelle Says P2P Payments Top One Billion Transactions.

Zelle 122

Zelle ISO 20022 P2P Transactions 122

Payments Dive

FEBRUARY 23, 2023

As the Federal Reserve prepares for a mid-year launch of its instant payments system, FedNow, it’s zeroing in on anti-fraud tools to protect users.

FedNow 187

FedNow Zelle Federal Reserve Instant Payments 187

Fintech Finance

OCTOBER 17, 2024

the network operator of Zelle® , today announced that the person-to-person payments network helped 143 million consumers and small businesses move nearly half a trillion dollars — $481 billion, up 28% year-over-year in the first half of 2024. Transaction volume on Zelle increased by 27% year-over-year to over 1.7

Zelle 97

Zelle Scams Small Business Enrollments 97

Payments Dive

APRIL 7, 2022

The banks earn billions of dollars from credit and debit card interchange fees so why would they want Zelle stepping in to connect consumers directly to bank accounts? "Banks would never want to jeopardize interchange revenue," said one analyst.

Zelle 103

Zelle Debit Card Accounts Consumer 103

Payments Source

MAY 30, 2019

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers.

Zelle 92

Zelle Consumer Fraud Detection Fraud Prevention 92

Payments Source

JULY 26, 2019

Early Warning's Zelle P2P network processed $44 billion in payment volume over 171 million transactions during the second quarter of 2019, a growth of 56% in volume and 71% in transactions year-over-year.

Zelle 98

Zelle Volume Transactions P2P 98

Payments Dive

AUGUST 5, 2024

The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.

Zelle 158

Zelle CFPB Disputes P2P 158

Payments Source

JANUARY 27, 2019

Zelle has been good for Bank of America’s P2P traffic, with the bank reporting eye-popping numbers every quarter. But the bank and the Zelle network have different ways of counting their volumes.

Zelle 97

Zelle P2P Volume Mobile Payments 97

Payments Source

JULY 7, 2017

Many of Zelle's member banks chose to migrate clearXchange users to the relaunched service. It's a potential convenience, but if executed without end user awareness or consent it can irritate consumers.

Zelle 99

Zelle End User Risk Accounts 99

PYMNTS

NOVEMBER 2, 2020

Digital payments network Zelle surpassed the one-billion transaction mark over the past year, with the coronavirus crisis leading to a boost in demand, according to a press release. based Zelle processed 323 million transactions worth $84 billion. In the third quarter alone, the Scottsdale, Ariz.-based

Zelle 83

Zelle P2P Credit Union Payment Networks 83

Payments Dive

OCTOBER 4, 2022

The senator pushed to bolster a key CFPB rule after releasing a report tallying claims of fraud and scams on the P2P platform submitted by Truist, PNC, U.S. Bank and Bank of America.

Zelle 146

Zelle CFPB Scams P2P 146

Payments Dive

SEPTEMBER 13, 2022

The instant payments brand is highlighting a double-digit growth rate for its peer-to-peer payments tool and downplaying scams on its system.

Scams 158

Scams Zelle Instant Payments Payments Tools 158

Finextra

AUGUST 5, 2024

JPMorgan Chase is considering taking legal action against the Consumer Financial Protection Bureau (CFPB) over an ongoing probe into the abuse of Zelle payments by scammers.

Consumer Financial Protection Bureau (CFPB) 78

Consumer Financial Protection Bureau (CFPB) Zelle Legal CFPB 78

Payments Dive

OCTOBER 30, 2024

Bank of America is responding to a Consumer Financial Protection Bureau inquiry related to the bank’s processing of electronic payments through Zelle, the lender disclosed in a regulatory filing.

Zelle 78

Zelle CFPB Payments Process 78

The Paypers

APRIL 3, 2025

US-based Zelle has released a company statement in which it announced its plans to shutter its dedicated app due to low usage.

Zelle 72

Zelle 72

Payments Source

OCTOBER 27, 2016

When Early Warning acquired clearXchange—soon to be renamed Zelle—late last year, the acquisition was applauded by banks that make up the P-to-P payments network because it brought Early Warning's various fraud detection technologies into play.

Zelle 90

Zelle Fraud Detection Security Payment Networks 90

Payments Source

JULY 29, 2020

The pandemic’s physical distancing requirements appear to have accelerated transaction volume and overall use of Zelle, the P2P app operated by the bank-owned Early Warning Services LLC.

Zelle 76

Zelle P2P Volume Transactions 76

Tearsheet

JANUARY 28, 2025

In this edition, we focus on Denise Leonhard, GM of Zelle. Half a trillion dollars were transferred over the Zelle network in the first half of 2024, according to Zelles report in October. This came with a 27% increase in transaction volume YOY for the firm, showing how quickly the Zelle network is expanding.

Zelle 52

Zelle Transactions Credit Union P2P 52

Finextra

APRIL 1, 2025

With the vast majority of people using its services through their banks, American person-to-person payments provider Zelle is shutting down its standalone app.

Zelle 64

Zelle P2P Payments 64

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.

Zelle 89

Zelle P2P Scams Financial Crimes 89

Payments Dive

OCTOBER 2, 2024

Zelle, the popular peer-to-peer payment service, and rivals should be more upfront with consumers about the ability to ask for money back, Consumer Reports says.

Payments Tools 163

Payments Tools P2P Consumer Zelle 163

Payments Source

FEBRUARY 22, 2018

In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust.

Zelle 88

Zelle Credit Cards Consumer Fraud Detection 88

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

Payments Source

SEPTEMBER 12, 2019

The creator of Zelle precursor clearXchange is heading a company building a blockchain-based international payment technology for banks.

Zelle 75

Zelle International Payments Blockchain Technology 75

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.

Zelle 84

Zelle P2P Venmo Mobile Payments 84

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.

Zelle 84

Zelle Venmo Security 84

The Paypers

JANUARY 28, 2025

The Consumer Financial Protection Bureau has filed a lawsuit against Early Warning Services, the operator of Zelle, along with three of its owner banks.

Zelle 70

Zelle CFPB Consumer 70

The Paypers

FEBRUARY 2, 2023

US-based Citizens Financial Group has made the Zelle service available for small business customers through its mobile banking app.

Zelle 73

Zelle Small Business Mobile Banking 73