EXCLUSIVE – Owe someone money, rent to pay, bills to split? What is the favored P2P method – the bank-backed Zelle app? Or social platform p2p service, Venmo?

In a poll conducted by Bank Innovation via Twitter, respondents said they preferred Venmo.

Among those surveyed, 57% said they prefer using the PayPal owned Venmo to make p2p payments, while 43% said they prefer Zelle. Square Cash (now with more bitcoin!) was not part of the survey.

Zelle is referred to by many in the industry as the banks’ response to the growing popularity of Venmo. It first appeared on mobile banking apps last June. It was created by Early Warning, a company owned by seven U.S. banks (including Bank of America, Capital One, JPMorgan Chase and Wells Fargo). Early Warning built the product on technology from clearXchange, which it acquired in early 2016.

Unlike Venmo, however, Zelle is able to provide realtime payments, as opposed to the typical 24-hours-or-more time lapse.

On the other hand, Venmo has emojis, along with brand popularity and a easy-to-use interface. The app, unlike Zelle, also has a social media component, which seems to be an aspect that a lot of its users enjoy and has helped it achieve scale. VEnmo processed $9 billion in 3Q 2017, doubling its previous-year volume.

Bank Innovation’s Twitter poll can be found here. The poll, conducted Tuesday, had 28 respondents.

To learn more about the latest developments in P2P payments and mobile banking, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to request an invitation.