Zelle® Returns to Money20/20 with a Surge in Network Payments
More than 60-million transactions processed, valued at $17.5B in Q3 2017; Zelle Network® Expands Access to P2P Service
LAS VEGAS, Nev., Oct. 23, 2017 – A year after its unveiling at Money20/20, Zelle returns to the “Ball” with significant momentum behind its banking industry-led, real-time mobile payments network. Zelle enables money to move from one bank account to another typically within minutes, using only an e-mail address or a mobile phone number. In Q3 2017 (July – Sept.) Zelle payments surged, with an average of 65,000 consumers enrolling daily, resulting in the network processing more than 60 million real-time person-to-person (P2P) payments, valued at $17.5 billion.
This success comes as the number of financial institutions in the Zelle Network grows to more than 50, including new participants, America First Credit Union, Bank of Central Florida, Bank of York, City National Bank, Collins State Bank, First National Bank of Central Texas, Guadalupe National Bank, Huntington Bank, Provident Bank, Quontic Bank™, Regions Bank, Renasant Bank, Seacoast National Bank, Surrey Bank & Trust, and United Bank. Already 13 financial institutions are currently live with Zelle, with more launching weekly.
For a full list of participating financial institutions, visit http://www.zellepay.com.
“Our real-time payments network is unlocking new opportunities for an entire industry,” said Paul Finch, CEO at the bank-owned Early Warning Services - the network behind Zelle. We have built and deployed multi layered fraud and risk management technology to enable safe payments in a real-time world. We’re also really proud that we have enabled millions of dollars to be disbursed to people impacted by disasters over the last few months, changing how money moves.”
Disbursing Funds to Those in Need
Adoption of Zelle is increasing beyond person-to-person (P2P), with corporations and charitable organizations using the Zelle Disbursements service, to send electronic payments to individuals using only their mobile phone number or email address.
“Early Warning’s Zelle and other payment tools allowed the Red Cross to distribute emergency financial assistance donated by the general public in a fraction of the time,” said Steve Casey, treasurer at the American Red Cross. “The team at Early Warning was pivotal in helping the Red Cross progress from concept to execution, and while we have more work to do drawing from lessons learned, we are excited that the Red Cross can help families so quickly on such a large scale. We could never have provided this financial assistance without the compassionate outpouring of financial donations from the public.”
Learn More about Zelle at Money20/20, October 22-25, 2017
At this year’s Money20/20 Conference, held at The Venetian in Las Vegas, Lou Anne Alexander, Group President of Payments at Early Warning will be participating on the following panels:
- Monday, October 23, 1:00pm-1:20pm: Zelle® of the Ball: Have the Banks Launched the Next Big Thing in P2P Payments?
- Wednesday, October 24, 8:30am-10:00am: Session: The Faster Money Challenge: Providers & Users Debate Solutions
Brought to you by Early Warning, an innovator in payment and risk management solutions, Zelle makes it easy, fast and safe for money to move. The Zelle Network® connects the nation’s leading financial institutions, enabling consumers to send fast person-to-person payments to nearly anyone with a U.S. bank account. Funds are available directly in consumer bank accounts generally within minutes when the recipient is already enrolled with Zelle. To learn more about Zelle and its participating financial institutions, visit http://www.zellepay.com.
About Early Warning Services, LLC
Creating the Future of Payments™ - Early Warning delivers innovative payment and risk solutions to financial institutions nationwide. For over 25 years, Early Warning has been a leader in technology that helps money move easy, fast and safe. Learn more at earlywarning.com.