Payments Dive

JULY 7, 2025

9, 2024 Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing. By Caitlin Mullen • Aug. You can unsubscribe at anytime. By Caitlin Mullen • Aug.

Tax Refunds 78

Tax Refunds Privacy Zelle Processors 78

PYMNTS

OCTOBER 4, 2017

On September 15, 2017, Phase 2 of NACHA’s same-day ACH rule change went into effect, enabling same-day ACH debits. Seeking P2P Payments Domination, Zelle Seeks to Deliver Instant Gratification. But competition in the P2P market appears to be intensifying, as traditional financial institutions launched their own P2P service, Zelle.

Zelle 40

Zelle P2P Same Day ACH NACHA 40

PYMNTS

JUNE 19, 2020

You may have experienced that fragmentation a bit yourself — using Zelle, of course, means that you are not going to be able to send funds to your pal who’s got Venmo on their phone. The coalition has said, too, that it is compliant with Financial Action Task Force mandates known as the “travel rule.”

P2P 106

P2P Bank Routing Number Payments ATM 106

Payments Dive

JULY 2, 2025

I dont think the rules necessarily have to change because I have a new tool to allow me to or help me to make a decision,” Tate said Monday. “AI The trade group represents payments companies that include the card network Visa, neobank Chime and processor Fidelity National Information Services, among others, according to the IPA website. “I

Processors 60

Processors AI FedNow Federal Reserve 60

PYMNTS

OCTOBER 3, 2016

In a rare reversal for the DoJ and big victory for two-sided markets, the judge found American Express’ rules on customer steering represented no harm for customers and that merchants who didn’t want to take American Express were under no obligation to do so. The Popmoney app operated by Fiserv Inc.

PayPal 64

PayPal Zelle Venmo P2P 64

FICO

AUGUST 26, 2021

“Do you Zelle?” It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). As it happens, there’s a lot more happening in the real-time payments arena than just PayPal, Venmo and Zelle.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

EBizCharge

MARCH 18, 2024

HIPAA incorporates three primary rules: The privacy rule grants individuals control over their health data, including the right to access, request corrections, and control disclosures of their protected health information (PHI). Is Zelle HIPAA-compliant? Zelle is not HIPAA-compliant. Is Zelle HIPAA-compliant?

Venmo 52

Venmo Zelle Identity Theft Privacy 52

PYMNTS

JANUARY 1, 2021

Featuring NICE Actimize and Zelle , this report showed that this year was tough on the fraud front as financial crime stressed FIs that were already confronting the pandemic, economic struggles and an unpredictable political climate. “We Preventing Financial Crimes. Digital Identity.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

PYMNTS

JANUARY 11, 2017

From blockchain to Zelle, several companies are adding features that would allow companies to offer faster payment methods to their customers across the globe. Jack Henry & Associates and FIS Global joined Early Warning’s Zelle network to offer faster P2P services to U.S. News from the world of faster payments.

Faster Payments 52

Faster Payments NACHA Zelle Federal Reserve 52

PYMNTS

JULY 23, 2018

And this week, Prime Day, Google and Zelle were the best candidates for wins, losses and score-equalizers on the week. The ruling also bans the payment incentive that pushes such pre-installing. It looks like Zelle is living up to its namesake animal, the gazelle, and is running quickly to catch up to P2P segment leader Venmo.

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Zelle Venmo P2P Online and Mobile Banking 40

PYMNTS

OCTOBER 29, 2020

The growing expectations regarding the ease of use and seamlessness of payment methods apply not only to consumers but also to business customers, with business payment processes increasingly being held to the same standards as those of consumer-facing payment methods such as Venmo or Zelle.

Automation 85

Automation B2B Payments Fraud Detection 85

PYMNTS

MARCH 30, 2020

DailyPay, the New York-based provider of software that allows employees to access their pay without waiting for their next pay period, saw a 400 percent rise in use between March 14 and March 17 as workers rushed to access their money to stock up before shelter-in-place rules took effect, the news outlet said.

Direct Deposit 52

Direct Deposit Venmo PayPal Zelle 52

FICO

JANUARY 31, 2018

Cannot be reversed by the scheme rules. Facilitated payment mechanisms , such as Zelle. These schemes share these criteria: Are defined as a payments scheme and cover both clearing and settlement (only clearing needs to be in real-time, settlement can be periodic). Can be made 24/7 365. Clearing completed within 1 minute.

Real Time Payments 59

Real Time Payments Payments Zelle Faster Payments 59

PYMNTS

NOVEMBER 6, 2018

Recently, NACHA — The Electronic Payments Association approved three new rules to update Same Day ACH services. Meanwhile, Early Warning Services ’ Zelle network is also getting more robust. Even as the U.S. expresses interest in a new RTGS system, financial players in the country are also working to improve existing schemes.

Faster Payments 53

Faster Payments Real Time Gross Settlement (RTGS) Same Day ACH Cross-Border Payments 53

FICO

NOVEMBER 7, 2022

Senator Elizabeth Warren, (D-MA) pointedly asked him about the number of fraudulent transactions Chase was seeing on the P2P payment platform Zelle. On one side, there are regulators concerned about the perceived growth of scam losses through popular P2P payments apps like Zelle, Venmo and CashApp.

Scams 52

Scams Authorization P2P Zelle 52

PYMNTS

DECEMBER 19, 2019

That figure pales in comparison to the $49 billion that passed through the Zelle P2P app in just Q3 2019 in nearly 200 million separate transactions. But stringent rules also govern when law firms must pay settlements and judgments, and there are damaging fines for payment timing errors.

Legal 52

Legal Checks Settlement Laws 52

FICO

JULY 28, 2021

In response to a rise in fraudulent activity targeting ACH and other electronic transactions, the WEB Debit Account Validation Rule was put into effect by NACHA on March 19, 2021. There are five ways that banks can comply with the account validation rule, which are detailed here. NACHA Steps Up Its Fraud Prevention Requirements.

NACHA 52

NACHA ACH Scams Account Validation 52

PYMNTS

AUGUST 22, 2017

Bank payments and liquidity management solutions provider Dovetail offers a real-time payments platform, modular services and configurable business processing rules that, when combined with Fiserv’s payment capabilities, will enable financial institutions to unify discrete solutions into a fully-integrated payments infrastructure.

Acquirers 43

Acquirers Real Time Payments ACH Processing Zelle 43

PYMNTS

JULY 31, 2017

Another potential rule change is being considered in court, as the American Banker Association (ABA) is challenging the new membership rules of the NCUA, claiming the administration is overstepping the limits imposed by Congress. For all the latest notable news and trends from around the credit union space, download the Tracker.

Credit Union 45

Credit Union NCUA P2P Regulations 45

PYMNTS

APRIL 6, 2017

While these new ACH offerings are promising to quicken the pace of monetary transactions, the changes are also bringing new rules and regulations that directly impact how banks and other financial players operate. This new rule will make same-day debits available, which could come as a rude awakening for originating parties.

Same Day ACH 40

Same Day ACH ACH ACH Rules Rules 40

FICO

NOVEMBER 1, 2019

In their natural habitat, elephants rule because they’re smart, strong and fast. But they don’t dance. In today’s digital transformation, real-time payments environment, big banks are the elephants ­– large and formidable, but not especially known for being nimble. But can elephants, in fact, dance?

Real Time Payments 40

Real Time Payments Fraud Detection Payment APIs and Integration Zelle 40

PYMNTS

MAY 31, 2019

To say that digital payment methods rule in Sweden today isn’t an overstatement. Swish started out as a P2P payments platform that allowed consumers to send funds amongst themselves, much like Zelle or Venmo. But is the incredibly rapid rise of cashless in Sweden a good thing? The Rapid Rise of Digital Payment Domination.

Digital Payments 71

Digital Payments Payments Debit Card ATM 71

PYMNTS

SEPTEMBER 12, 2016

Not only that, but the big banks are about to roll out a competitor to PayPal’s Venmo, which is called Zelle. These discussions are important because Apple, already with a popular mobile wallet, is about to roll out online payments, which is in direct competition with PayPal.

PayPal 64

PayPal Online and Mobile Banking Visa Venmo 64

CB Insights

AUGUST 23, 2018

The payments function includes P2P payments through Chase QuickPay with Zelle and bill pay (for rent, mortgage, utilities, credit cards, auto, and other bills) with Chase Online Bill Pay. These features were the result of JPM’s investments in Zelle and Bill.com. To date, the app has had little traction.

Consumer 76

Consumer Online and Mobile Banking Credit Cards Push-to-Card 76

FICO

MARCH 27, 2017

In today’s era of Venmo and SnapCash (and soon Zelle), three-day P2P transfers just don’t cut it. Their compliance infrastructure is typically rules-based and relies on human intervention—two ingredients that don’t have the elasticity to scale as much, and as fast, as is required.

Same Day ACH 40

Same Day ACH ACH AI Online and Mobile Banking 40

PYMNTS

NOVEMBER 18, 2019

Ramsey said the growth in Zelle and Venmo helps illustrate the emergence of a mindset that states, “as a consumer I can pay my bills when it suits me. He likened the strategy to the 80/20 rule, where the bank may make 20 percent of its revenues from payment services and 80 percent from account holdings. The Merchants.

Real Time Payments 49

Real Time Payments Consumer ISO 20022 Online and Mobile Banking 49

FICO

NOVEMBER 30, 2022

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

PYMNTS

SEPTEMBER 30, 2016

That’s how many comments have been received by the CFPB reacting to their proposed rule-making which would, more or less, legislate the industry out of existence. Early Warning aka Zelle is adding more banks and doing deals with the networks. Yeah, maybe the buzz over bots is getting, well a little too buzzy. Payday Lending.

CFPB 69

CFPB Online and Mobile Banking Bots Same Day ACH 69

Stax

SEPTEMBER 17, 2024

These financial institutions all follow ACH rules and regulations by the National Automated Clearinghouse Association (Nacha). Automated Clearing House (House) is the transfer of funds between an electronic network (known as ACH network) made up of banks, credit unions, and other 10,000+ financial institutions.

Wire Transfer 88

Wire Transfer Wires Wire ACH 88

PYMNTS

FEBRUARY 6, 2018

That means, Steggall noted by way of example, that although Urban FT offers account-to-account capability, they are also able to offer Zelle as a way to extend instant transfers to their partner banks. As a general rule, the smaller the bank, the more of the build we do,” he noted.

Payment APIs and Integration 40

Payment APIs and Integration Processors Zelle P2P 40

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

SEPTEMBER 3, 2018

Zelle Gains Ground On Venmo. In mid-July eMarketer officially predicted that bank-backed P2P service Zelle was on track to overtake PayPal -owned Venmo by the end of 2018. Zelle is projected to grow 73 percent this year and hit 27.4 I wouldn’t rule out that we take on a bigger deal if there’s a good fit for us,” said Schulman.

PayPal 40

PayPal Zelle Online and Mobile Banking P2P 40

CB Insights

SEPTEMBER 10, 2019

Qapital lets users set rules for when to save money. Chase’s digital-first app Finn mirrored Qapital’s automated rule-setting model, but after less than a year the big bank announced plans to shutter the service and move its customers to its main Chase Mobile app product.

Finance 77

Finance Online and Mobile Banking Micro-Entry Advisors 77

Stax

JUNE 27, 2024

ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. All banks in the network have to follow rules and guidelines set by the National Automated Clearing House Association (NACHA).

Wire Transfer 88

Wire Transfer Wires Wire ACH 88

Tearsheet

SEPTEMBER 19, 2024

Zelle today is growing rapidly, as an example, on the back of just providing a good, simple, valuable consumer experience. Just take, for example, a recent ruling by the FTC asking to make it just as easy for a consumer to cancel a subscription as it is to initiate a subscription. And it creates a better experience for everybody.

Posting 52

Posting Issuers Consumer Disputes 52

Payments Dive

JULY 7, 2025

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Laws 78

Laws FedNow Privacy Federal Reserve 78

PYMNTS

OCTOBER 11, 2018

Designed to be a way for users to split up bills, the app didn’t really catch on the way players like Venmo , PayPal , Zelle and Square Cash did, and instead ended up mostly being used for niche services of the adult entertainment variety. Snap has declined to comment on the ruling.

Push-to-Card 72

Push-to-Card P2P Zelle Rules 72