News

Zelle reports double-digit growth from Q2 to Q3

October 25, 2018

Zelle Network, a provider of person-to-person payment services, tallied approximately 116 million transactions in Q3 2018 for a total of $32 billion in payments, the company announced in a press release Tuesday.

Transaction volume increased 16 percent quarter over quarter, and total money moved increased 13 percent.

Year over year, transaction volume on the Zelle Network increased 83 percent while transaction value increased 67 percent, the company said.

Financial institution participants contributed to an enrollment increase of 10 percent for the period, resulting in more than 75 million tokens — i.e., mobile numbers or email addresses — issued across the entire Zelle Network to date.

"As we strive for ubiquity, we are working closely with banks and credit unions of all sizes in offering a fast and consistent payments experience," said Paul Finch, CEO of Eary Warning, parent company of the Zelle Network. "Zelle is one of the fastest growing consumer financial brands in history and we are proud of our momentum, especially this quarter as we signed more than 40 financial institutions to our network through partnerships with our processors CO-OP, FIS, Fiserv, and Jack Henry & Associates."