17 news stories.
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• Should Early Warning be in the NFCW Expo? Is this your organisation? Find out how to get your NFCW Expo showcase.
Make room Millennials, Zelle study finds Generation X and Boomers driving broader adoption of person-to-person (P2P) payments — Early Warning Services — “52% of Generation X and 46% of Boomer respondents said that they ‘trust’ P2P payments, and are interested in using available solutions. 76% of Generation X and 74% of Boomers surveyed ranked ‘offered through a financial institution they use’ as a top reason to trial P2P payments.”
US consumers cite trust in banks and in friends and family — Early Warning — “More than 75% of Millennials have used online or mobile P2P payments. Generation X is a close second at 69%, and Baby Boomers are closing in at 51%… 49% of Millennials use P2P payment services at least once a week, followed by 42% of Generation X and 32% of Boomers.”
Zelle moves record $75bn in 2017 — Zelle — “In 2017, the US$75bn moved on Zelle, was an increase of 36% year-over-year (YoY) from 2016’s totals of $55bn… The Zelle network processed more than 247m payments in 2017, an increase of more than 45% YoY on the 170m transactions processed in 2016… More than 60 financial institutions are now part of the Zelle network.”
Zelle returns to Money 20/20 with a surge in network payments — Zelle — “In Q3 2017 (July – Sept) Zelle payments surged, with an average of 65,000 consumers enrolling daily, resulting in the network processing more than 60m real-time person-to-person (P2P) payments, valued at US$17.5bn… This success comes as the number of financial institutions in the Zelle Network grows to more than 50.”
Zelle money movement momentum continues — Zelle — “More than 50,000 consumers are enrolling daily, contributing to more than 100m real-time person-to-person (P2P) payments, totaling US$33.6bn, in the first half of 2017… Next week millions more will have the opportunity to send and receive money with Zelle through a new mobile app.”
Zelle now live! in mobile banking apps today, a new way to pay — Zelle — “Beginning this month, more than 86-million U.S. mobile banking consumers will be able to send and receive money through Zelle… Beginning this week, and continuing on a rolling basis over the next 12 months, Zelle will become available in the mobile banking apps of more than 30 participating financial institutions.”
Banks offering Early Warning’s Zelle P2P payments platform processed more than 170m P2P payments in 2016, totalling US$55bn in aggregate transaction value... More
Nineteen US banks have launched Zelle, the mobile P2P money transfer service unveiled last October to compete with the likes of Venmo, allowing users to send money directly to each other’s bank accounts within minutes... More
Banking and payments technology provider FIS is to offer Early Warning’s Zelle P2P payment service to its financial institutions... More
In-store mobile payments have experienced a “long and difficult road” but the functionality is now starting to resonate with consumers, PayPal’s EVP and chief operating officer Bill Ready has told attendees during a keynote at Money20/20... More
America’s biggest banks have launched a money-transfer app to compete with PayPal, Venmo and Square Cash, Reuters reports... More
US bank Citi has become the latest to join Early Warning’s bank-led digital payments network ClearXChange... More
US financial institution Frost Bank has joined Early Warning’s bank-led digital payments network ClearXChange... More
Early Warning’s bank-led digital payments network ClearXChange is set to change its name to Zelle... More
Mastercard and Visa have joined Early Warning’s peer-to-peer network ClearXChange, allowing US consumers to send money to others using their Mastercard or Visa credit and debit cards... More
Customers of Capital One in the US can now make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange... More
Customers of Wells Fargo in the US will soon be able to make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange... More