Zelle hits $1 trillion in payments, outpacing rivals like PayPal with 151 million user accounts.
Zelle, a payments network owned by Early Warning Services, reached a total volume of $1 trillion in 2024, the highest for any peer-to-peer platform. Its user base grew 12% to 151 million accounts, with transactions increasing by 27%. Despite facing fraud concerns, Zelle, which allows instant money transfers, surpassed rivals like PayPal, aiming to replace cash and checks and attract small businesses.
1 month ago
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