News

Zelle P2P network moves $75B in funds during 2017

January 30, 2018

In 2017, the Zelle person-to-person network moved $75 billion in funds across a system that connects several major banks, according to a press release from parent company Early Warning Services.

Early Warning said the $75 billion was an increase of 36 percent year-over-year from the 2016 total of $55 billion netted when Zelle was previously known as clearXchange.

The Zelle network processed more than 247 million payments in 2017, an increase of more than 45 percent year-over-year on the 170 million transactions processed in 2016.

In the fourth quarter of 2017 alone, the network moved $22 billion, up 14 percent quarter-over-quarter from more than 75 million transactions in 2016.