Like other P2P apps, bank-backed Zelle also experienced an increase in its payment volume in the second quarter, but at a relatively less impressive rate than PayPal’s Venmo.

Zelle released a report yesterday showing that it had processed 100 million transactions totaling $28 billion in the second quarter ending on June 30. The average Zelle transaction was $281 during this period, according to the release.

In the first quarter, Zelle processed $25 billion in transactions, meaning the growth of transaction volume was about 15% from 1Q and 17% YOY. To put that in perspective, Venmo experienced a 50% increase in transaction payment volume YOY, although its transaction volume was much smaller than Zelle at $14 billion.

Paul Finch, CEO at Early Warning, said in a statement:

Zelle reaches more than 100 million consumers through mobile banking apps and millions more through our standalone app. Each month, we welcome more financial institutions to the network, moving closer to offering a ubiquitous payments service for banks and credit unions, large and small.

Currently,  about 29 FIs are live on the Zelle Network, including the larger banks like Bank of America, JPMorgan Chase, and Wells Fargo. According to the release, a 119 FIs are in the process of getting integrated to the Zelle network.

Zelle, which was created by Early Warning, was a bank-backed P2P initiative founded in 2016.