Scottsdale, AZ., April 26, 2018 - In the first quarter of 2018, more than $25 billion moved through the Zelle Network, up 15 percent quarter-over-quarter (QoQ), on 85 million transactions, up 14 percent QoQ.
"Zelle® is replacing cash and checks for sending gifts for birthdays to distributing funds to those in need, changing how money moves safely for millions of consumers," said Paul Finch, CEO at the bank-owned Early Warning Services - the network operator behind Zelle. "In partnership with each of our participating financial institutions, we are educating consumers while innovating to deliver safe and secure payments."
Zelle enables payments from one bank account to another, typically within minutes when both consumers are enrolled, using only an e-mail address or a U.S. mobile phone number. Currently, more than 100 financial institutions have signed contracts to participate in the Zelle Network. For consumers who bank with financial institutions that do not participate in the Zelle Network, a Zelle App is available in the Apple App Store and Google Play.
Brought to you by Early Warning, an innovator in payment and risk management solutions, Zelle makes it easier, faster, and safer for money to move. The Zelle Network connects the nation’s leading financial institutions, enabling consumers to send faster person-to-person payments to nearly anyone with a U.S. bank account. Funds are available directly in consumer bank accounts generally within minutes. To learn more about Zelle and its participating financial institutions, visit https://www.zellepay.com.
About Early Warning
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 easier, faster, and safer. Learn more at earlywarning.com.