Tagged: zelle

April 2, 2025 @ 6:49 pm By JD Alois  |  

As of April 1, 2025, the Zelle App is no more. Zelle, created by a consortium of financial institutions, has announced that individuals using the stand-alone app must now sign up with one of the over 2200 banks and credit unions in the US that… Read More

March 5, 2025 @ 3:07 pm By Omar Faridi  |  

In a significant shift in regulatory approach, the Consumer Financial Protection Bureau (CFPB) has dropped its lawsuit against three of the largest U.S. banks—JPMorgan Chase, Bank of America, and Wells Fargo—along with Zelle’s operator, Early Warning Services. The case, which alleged that these institutions failed… Read More

February 12, 2025 @ 9:59 pm By Tony Zerucha  |  

In 2024, Zelle reached 151 million enrolled users and helped American consumers and small businesses send more than $1 trillion. The total dollar amount sent on the platform increased 27% from 2023, while Zelle’s transaction volume totaled 3.6 billion, a 25% increase from the prior year. Zelle’s 151 million consumer and small business accounts… Read More

December 21, 2024 @ 4:13 pm By JD Alois  |  

Earlier this week, the Consumer Financial Protection Bureau  (CFPB) announced a lawsuit targeting the big banks that launched Zelle. Zelle was created by big banks in recognition of the rise of peer-to-peer payments and transfers. The banks wanted to keep pace with competitors and decided… Read More

December 20, 2024 @ 10:36 am By JD Alois  |  

As part of a push to maintain relevance in the digital finance world, several years ago big banks partnered up to launch their own instant payments and transfer system Zelle. The payments platform has emerged as a significant success – except for claims of fraud… Read More

October 17, 2024 @ 9:00 am By JD Alois  |  

Zelle is reporting that consumers and small businesses moved $481 billion in the first half of 2024. Zelle is a payments and transfers services that was launched by a consortium of many banks. The feature is designed to compete with the growing number of alternatives… Read More

May 8, 2024 @ 2:41 pm By Omar Faridi  |  

SoFi (NASDAQ: SOFI) will be supporting Zelle which is being rolled out after requests from clients. Zelle is a bank-owned instant payments and transfer service that is broadly available in the banking world. SoFi states that Zelle is one of the most requested features for… Read More

August 19, 2023 @ 3:40 pm By Tony Zerucha  |  

DataVisor, an AI-powered fraud and risk platform, this week released its instant payments fraud prevention solution. Real-Time Payments Fraud Solution leverages account life-cycle signals, advanced machine learning techniques and prebuilt rules for real-time payments fraud scenarios. It allows financial institutions safely access instant payment technologies… Read More

July 26, 2023 @ 8:43 pm By Omar Faridi  |  

  Travis Everett, Chief Operating Officer (COO) of National Merchants Association (NMA), has shared key insights with Crowdfund Insider on FedNow, the new instant payments and transfer service offered by the US Federal Reserve. The new service became operational this past week, with 35 financial… Read More

June 8, 2023 @ 4:51 pm By JD Alois  |  

Last week, Chase (NYSE:JPM) experienced a significant problem as some online banking accounts saw Zelle transfers apparently sent out twice. For some smaller accounts, this led to overdrafts and a negative balance – something most consumers and businesses wants to avoid. After several hours of… Read More

June 2, 2023 @ 4:09 pm By JD Alois  |  

Zelle, a transfers and payments service utilized by many big banks as well as hundreds of smaller ones, stumbled once again today. Some customers woke up to discover that transfers completed via their Chase (NYSE:JPM) account – may have been sent twice. The duplicate transfers… Read More

February 19, 2023 @ 11:37 am By Omar Faridi  |  

Early Warning Services, LLC, the network operator of Zelle, announced more than 1,800 financial institutions (FIs) are part of the Zelle Network. In 2022, 97% of FIs that joined the network “have under $10 billion in assets.” Al Ko, Chief Executive Officer at Early Warning,… Read More

January 23, 2023 @ 9:29 am By JD Alois  |  

In a move that should come as no surprise – except for the delay in moving forward on the strategy – the big banks that helped to found Zelle are creating their own digital wall, according to a report. The seven banks, including Citi, Bank… Read More

January 18, 2023 @ 8:34 pm By JD Alois  |  

Zelle, a payments and transfers service that was created by multiple big banks, has been having some issues today, according to multiple posts on Twitter. While Zelle has not issued a press statement reassuring users it is on top of things, it appears that Zelle… Read More

November 16, 2022 @ 11:31 pm By Omar Faridi  |  

Varo Bank — which claims to be the first all-digital, nationally-chartered U.S. consumer built from the ground up techbank — announced that it will offer Zelle® in its mobile banking app. Zelle is described as “a safe way to send and receive money with friends,… Read More

September 29, 2022 @ 9:00 am By Omar Faridi  |  

In the past five years, consumers and businesses, small and large, have sent more than five billion Zelle payments, “totaling nearly $1.5 trillion,” according to Early Warning Services, LLC, the network operator of Zelle. Zelle users have “leveraged the convenience and security of Zelle to… Read More

September 9, 2022 @ 7:55 am By Omar Faridi  |  

In the past five years, consumers and businesses, small and large, have sent more than five billion Zelle payments, “totaling nearly $1.5 trillion,” according to Early Warning Services, LLC, the network operator of Zelle. Zelle users have “leveraged the convenience and security of Zelle to gift… Read More

June 11, 2022 @ 4:35 pm By Omar Faridi  |  

Nekoosa Port Edwards State Bank recently became the 1,000th financial institution to offer Zelle® via Fiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions. Zelle® allows consumers “to send and receive money directly from one U.S. bank account to another,… Read More

April 17, 2022 @ 8:00 pm By Omar Faridi  |  

We recently connected with Bill Sytsma, Senior Vice President at Callsign, a digital trust pioneer servicing some of the top banks in the US, to discuss authorized push payment (APP) fraud. Bill began working at Callsign in January 2021, where he is responsible for the… Read More

April 14, 2022 @ 10:41 pm By Omar Faridi  |  

Fiserv, Inc. (NASDAQ: FISV), an international provider of payments and financial services technology, announced that Arkansas Federal Credit Union has upgraded from their prior person-to-person (P2P) payment solution “to the Zelle Network® via Fiserv.” In the first two months post-launch, Arkansas Federal has “seen P2P… Read More