PYMNTS

JANUARY 24, 2019

Zelle, traditional banks’ answer to Venmo and Paypal, continues to grow in usage, not only with customers but with banking institutions as well, according to reports. Zelle’s operator, Early Warning Services, reported a Q4 payment volume of $35 billion, which is up 12 percent from Q3 and 61 percent from a year before.

Zelle 69

Zelle Volume Process Venmo 69

Payments Dive

JUNE 27, 2024

Community banks partnered with Alloy Labs and Payrailz a few years ago on a project called Chuck, in a bid to rival Zelle, but that effort has been subsumed by a stealthy successor.

Zelle 88

Zelle Community Banks 88

PYMNTS

JANUARY 6, 2020

Community banks are pushing for a stronger role with their small business (SMB) customers. However, through an embrace of FinTech collaboration and industry consolidation, community banks appear poised to further dispel assumptions of a lack of digitization. A Consolidating Industry. Strengthening SMB Ties.

Community Banks 49

Community Banks Faster Payments Federal Reserve Small Business 49

PYMNTS

FEBRUARY 1, 2019

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle. users by year’s end, behind Zelle’s 27.4 Zelle Bank Gains.

Venmo 71

Venmo P2P Zelle PayPal 71

PYMNTS

MARCH 18, 2019

Now, a decade after its launch, Venmo is sharing the P2P stage with other players, Early Warning Services’ Zelle being the most notable among them. Although only 60 banks and credit unions (CUs) have made Zelle available to their customers, approximately 230 have signed up for the service. There are two sides,” Hsu said.

P2P 59

P2P Zelle Security Venmo 59

Payments Source

MARCH 8, 2018

Many community bankers fear the fast-growing P-to-P network will increase costs without adding revenue.

Zelle 63

Zelle Community Banks Technology Payments 63

PYMNTS

MARCH 27, 2019

In a podcast with Karen Webster, Derek Swords, vice president of product management and electronic payments at Fiserv , pointed to the rise of Zelle , the P2P offering that logged $35 billion in payments volume in the fourth quarter of last year, up 61 percent year on year and 12 percent sequentially.

P2P 61

P2P Zelle Use Case Faster Payments 61

PYMNTS

AUGUST 10, 2020

Waterhouse said that getting banks to sign on is about showing them the relevant use cases that will drive revenue and even new customer acquisition. This pilot program uses routed requests for payment using a Zelle social alias or traditional account information to make bill payments sent, settled, posted and confirmed in real time.

Real Time Payments 138

Real Time Payments RTP TCH Federal Reserve 138

Payments Source

JUNE 20, 2019

Community bank executives, payments officials and others said Libra faces an uphill battle amid heavy competition and regulatory scrutiny.

Digital Currency 71

Digital Currency Community Banks Payments Zelle 71

PYMNTS

FEBRUARY 8, 2019

Yabuki spotlighted the news on Thursday that New York Community Bank (NYCB), with more than $51 billion in assets, is converting to a real-time platform, marked by Fiserv’s digital banking and payment solutions. The firm signed up nearly 100 new clients for Zelle in Q4, said the executive.

Digital Payments 58

Digital Payments Zelle Online and Mobile Banking Payments 58

PYMNTS

JULY 7, 2017

With mobile pay, Apple is now directly competing with PayPal, PayPal-owned Venmo, Square Cash and popular bank services like Chase QuickPay and Zelle. Apple’s payment service Apple Pay is gaining in popularity, with 21 new financial institutions joining the growing list that accepts the digital payment method.

Credit Union 41

Credit Union P2P Online and Mobile Banking Zelle 41

PYMNTS

MAY 27, 2020

“We saw things like digital interactive teller utilization going up by 550 percent, for example,” he told Webster, “and online and mobile banking spiking 300 percent to 400 percent in many instances.”. He noted that P2P payment volume moving across Zelle exploded, taking mere weeks to top what had previously been annual volumes.

FinTech 94

FinTech Online and Mobile Banking Innovation FDIC 94

Fi911

AUGUST 1, 2023

This is distinct from other customer-centric payment services like Venmo or Zelle in that its implementation hinges on the adoption by banking institutions. This is the inaugural real-time payment system from the US central bank. What Changes Should Banking Expect? The post FedNow is Live. appeared first on fi911blog.

FedNow 52

FedNow Federal Reserve Instant Payments Zelle 52

PYMNTS

DECEMBER 20, 2019

Not every FinTech solution designed for banks is able to do so, he noted, pointing to the example of Zelle. The money transfer service is designed by and for banks, and certainly serves a purpose in the market, but it can be expensive to maintain, particularly for smaller community banks.

Cross-Border 52

Cross-Border Cross-Border Payments Payments B2B 52

PYMNTS

JUNE 1, 2020

i2c’s McCarthy noted that looking back over the past 10 years, “I wouldn’t have believed the types of structural changes we’ve seen” where the advent of PayPal, Zelle, contactless cards, and mergers and acquisitions that have created companies with full suites of payment products have made the shift easier.

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

PYMNTS

MARCH 18, 2019

Also keen on the Fed’s involvement were the community banks and credit unions that worry (as they should) about having TCH as the only operator of an RTP network in the U.S. TCH is the association of the 25 largest banks in the U.S., and one of two operators of the ACH network in the U.S., the other being the Fed.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JANUARY 15, 2021

A lot of banks are still in a learning mode … I don't think that every bank – from community banks all the way up to bulge bracket banks – are going to dive in and suddenly launch stablecoins,” Allaire said. Still In Learning Mode . “A

Stablecoins 101

Stablecoins OCC Regulations Office of the Comptroller of the Currency 101