The American P2P payment service Zelle releases their results for Q1 2019.
Over this period, Zelle claims $39 billion sent through their network, and 147 million transactions processed.
Year-over-year payment values increased by 54%, and payment volume increased by 72%.
To this day, customers from roughly 5,400 financial institutions have been relying on the Zelle Network, either via their m-banking app, or through storing their payment card to Zelle mobile app.
Becoming a leader on the American market for American payments. Zelle claims higher transaction volumes than their rivals, including Venmo (long-existing service by PayPal), or even Popmoney and Square.
$119 billion was processed through the Zelle network in 2018 compared to $62 billion via Venmo. And Zelle also took the lead in 2016, highlighting that this interbank service did spread fast.
Zelle is owned by Early Warning, a FinTech company jointly owned by Bank of America, JP Morgan, Wells Fargo, Capital One, US Bank, PNC Bank and Citibank.
This considered, it is automatically integrated to each of these bank, and enjoys a serious competitive edge, especially when it comes to acquiring and retaining customers.