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$106 Billion Transferred with Zelle via 392 Million Digital Transactions in Q1 2021: Report
May 9, 2021 @ 7:27 pm By Omar Faridi
Zelle “springs” into 2021 with over $100 billion sent during the first quarter of this year, according to a release.
Early Warning Services, LLC, the network operator behind Zelle, revealed on May 5, 2021 that $106 billion was sent via the Zelle Network on 392 million transactions during Q1 2021.
As noted in the release:
“Year-over-year sent payment values increased by 74%, while payment transactions increased by 61%. Zelle® Small Business continues to be one of the fastest growth areas for the Zelle Network®, with transactions increasing 180% year-over-year.”
As mentioned in the release, consumers of almost 8,000 financial institutions are now taking part in the Zelle Network, whether that’s accessing Zelle via their financial service provider’s mobile banking app or enrolling their debit cards in the Zelle mobile app.
Small businesses fueling Zelle s growth americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
Zelle® Springs Into 2021 with More than $100 Billion Sent in the First Quarter
-392 million payments worth $106 billion sent over the Zelle Network®
-Zelle® Small Business achieves 180% year-over-year growth
-Investing in Consumer Education continues to be a priority as digital banking adoption grows
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SCOTTSDALE, Ariz., May 5, 2021 /PRNewswire/ Early Warning Services, LLC, the network operator behind Zelle®, today announced $106 billion was sent through the Zelle Network® on 392 million transactions during Q1 2021. Year-over-year sent payment values increased by 74%, while payment transactions increased by 61%. Zelle® Small Business continues to be one of the fastest growth areas for the Zelle Network®, with transactions increasing 180% year-over-year.