Zelle Reports P2P ‘Surge,’ Partners with IBM
Payments network Zelle is growing fast, reporting an increase in transactions and new users as well as new partnerships.
The network has now processed over 60 million transactions in person-to-person payments, it reported during the Money 20/20 conference taking place now in Las Vegas. Zelle also reported a high level of new users signing up to the platform, with “an average of 65,000 consumers enrolling daily,” the network said.
Altogether the network has processed $17.5 billion in P2P payments, Zelle said.
The network has expanded its partnerships as well as its customers, with 50 new financial institutions now integrating with the platform. These include Regions Bank, America First Credit Union, and the National Bank of Texas, among others.
Zelle has also partnered with technology company IBM to use its technology — most notably its artificial intelligence service Watson — to better expand its P2P offerings to more banks and FIs.
