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Due to recent economic and societal changes, there has been an increase in consumers leveraging Zelle for everyday essentials such as paying back neighbors for groceries, reimbursing friends and family for canceled events, and sending money to loved ones in need.
Zelle®, in partnership with EVERFI, the leading social impact education technology company, today launched “Money Moves: Modern Banking & Identity ProtectionTM”.
Partnership helps older adults stay safe at home by learning new digital banking habits.
- 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.
Early Warning Services, LLC, the network owner and operator of Zelle®, today responded to misleading reports of fraud and scams on the Zelle Network®.
- Year-over-year growth: Sent payment values increased by 62%, while transaction volumes increased by 58%.
- Achieving ubiquity with banks and credit unions: Nearly 500 new financial institutions of all sizes joined the Zelle Network® in 2020.
- Zelle for small businesses: New use case launches with 11 financial institutions, which reach 40% of U.S. small businesses1.
Zelle® has partnered with celebrity TV host and Queer Eye star Karamo to give away a total of $75,000 this holiday season through the Zelle® “Send Cheer” contest.
- Nearly 1700 financial institutions (FIs) signed on to the Zelle Network®, representing 74% (577 million) of all U.S. DDA accounts.
- Credit unions and banks under $10 billion in assets are driving growth, representing 40% of FIs in the Zelle Network®.
- Small businesses and consumers sent 436 million payments worth $120 billion with Zelle® in Q2 2021.
Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, announced today that it is partnering with Early Warning Services, LLC, the network operator behind Zelle®, to make faster payments more readily available for minority-owned depository institutions (MDIs).
Through its Pay It Safe initiatives, Zelle® helps educate consumers on protecting themselves and their money:
- Only send money to those you trust.
- Beware of payment scams.
- Treat Zelle® (or any digital payment system) like cash.