What's New in Payments

Older US consumers warm to bank-led P2P payments

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.”


What's New in Payments

P2P payments gain acceptance across all US age groups

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.”


What's New in Payments

US consumers sent $75bn in Zelle P2P payments in 2017

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.”


What's New in Payments

Zelle reports 65,000 new customers a day for its bank-led P2P payments service

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.”


What's New in Payments

US banks’ P2P payments service reports 100m transactions

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.”


What's New in Payments

Zelle now live! in mobile banking apps today, a new way to pay

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.”