SCOTTSDALE, AZ – Consumers and businesses sent 1.8 billion payments through the Zelle Network^® during 2021, an increase of 49% from a year earlier, Early Warning Services, LLC, the network operator behind Zelle^®, announced today. Those payments totaled $490 billion, up 59%.

“Our growth in 2021 shows how consumers and businesses are increasingly turning to their banking app and Zelle^® for the moments that matter – where trust, ease, and speed are of the utmost importance,” said Al Ko, Chief Executive Officer at Early Warning. “We’re proud to be a leader in the market. In 2022, we commit to doing more to continue to help make Zelle^® fast, easy and safe for consumers to send and receive money while also helping businesses improve their cash flows and secure their digital payment experiences.”

Transaction Volumes, Across Businesses Large and Small, Continue to Grow Rapidly

Businesses, including property managers, contractors, and health and beauty providers, relied on Zelle^® for sending and receiving money throughout the year. In 2021, payments received by small businesses increased 162% over the previous year’s totals. Fortune 500 companies, universities, and national non-profits also turned to Zelle^® when disbursing funds to the public as a fast and safe alternative to sending checks.

“Since its launch in 2017, Zelle^® has rapidly grown to become the largest U.S. P2P payments network by total payments value sent, with payment flows that are now twice the size of the next largest standalone competitor,” said Talie Baker, Strategic Advisor with Aite-Novarica’s Retail Banking & Payments practice. “While the market has seen tremendous growth, Zelle^® is leading the way in total payment value and in record time. A testament that if financial institutions build it, they will come.”

Today, consumers of nearly 10,000 financial institutions—an increase of 3,000 financial institutions within the past year—participate in the Zelle Network^®, whether accessing Zelle^® through their financial institution’s mobile banking app or enrolling their debit cards in the Zelle^® app.

Consumers should only use Zelle^® to send and receive money with friends, family, and businesses they know and trust.

About Zelle^®

Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle^® makes it fast, safe, and easy for money to move. The Zelle Network^® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people and businesses they know and trust with a bank account in the U.S. Funds are available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle^®. To learn more about Zelle^® and its participating financial institutions, visit www.zelle.com.

About Early Warning Services, LLC

Early Warning Services, LLC is a fintech company owned by seven of the country's largest banks. For almost three decades, our identity, authentication, and payment solutions have been empowering financial institutions to make confident decisions, enable payments and mitigate fraud. Today, Early Warning is best known as the owner and operator of the Zelle Network^®, a financial services network focused on transforming payment experiences. The combination of Early Warning's risk and payment solutions enables the financial services industry to move money fast, safe, and easy, so that people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

Who:

Early Warning Services, LLC (EWS), the network owner of Zelle®, is a fintech company owned by seven of the country’s largest banks. For 30 years, Scottsdale-based EWS has empowered financial institutions to make confident decisions, enable payments and mitigate fraud with its identity and payment solutions.

What:

EWS is announcing the grand opening of its new headquarters location in Scottsdale, Ariz., and continuing its legacy in Greater Phoenix as a top-tier employer of more than 1,100 employees with more than 70 percent based locally.

Why:

EWS saw a need to expand its headquarters footprint and provide a state-of-the-art space for its hybrid workforce based in Greater Phoenix. The new location will accommodate the company’s current and future workforce growth. Today, there are more than 180 open job listings. Job seekers can review the opportunities at EarlyWarning.com/careers.

Where/When:

Beginning August 1, 2022, Early Warning will be headquartered at:

5801 N. Pima Rd. Scottsdale, AZ 85250

Look for the Zelle® logo off the Loop 101 Freeway.

About Early Warning Services, LLC

Early Warning Services, LLC is a fintech company owned by seven of the country's largest banks. For almost three decades, our identity, authentication, and payment solutions have been empowering financial institutions to make confident decisions, enable payments and mitigate fraud. Today, Early Warning is best known as the owner and operator of the Zelle Network®, a financial services network focused on transforming payment experiences. The combination of Early Warning's risk and payment solutions enables the financial services industry to move money fast, safe, and easy, so that people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

Zelle® and the Zelle® marks are property of Early Warning Services, LLC.

Scottsdale, AZ – In the past five years, consumers and businesses, small and large, have sent more than five billion Zelle® payments, totaling nearly $1.5 trillion, according to Early Warning Services, LLC, the network operator of Zelle®.

Zelle® users have leveraged the convenience and security of Zelle® to gift money, pay rent, reimburse friends and family for shared costs, receive reimbursements, or access money in critical moments, usually within minutes using Zelle®.

"Zelle® has transformed the way more than a hundred million people move money and conduct digital transactions," said Al Ko, Chief Executive Officer at Early Warning. "We are part of consumers' everyday lives and committed to being their trusted source for digital payments that are easy to use and don’t require the sharing of any bank account information. Thanks to our financial institution participants, reseller partners, and employees, we continue to innovate and expand adoption while enhancing protection measures."

Commitment to Safe Payments

The network has achieved more than 99.9% of payments sent without any report of fraud or scams. Zelle® and its participating financial institutions are continuously evolving and adapting consumer protection measures to address the dynamic nature of deceptive activities. For instance, real-time safety notifications (within the user experience and payment flow) alert users to only use Zelle® when sending money to people they know and trust.

In addition to the extensive education that financial institution participants deliver to their customers, Zelle® partners with non-profits, consumer safety organizations, influencers, and enterprises. By collaborating with The Cybercrime Support Network, Detroit Pistons, EVERFI, Nev Shulman, The Knoble, and Vox Media, the company continuously educates consumers on how to stay safe when using digital payments such as Zelle®. The recently launched Zelle® Learning Hub is another resource that helps consumers make smart financial decisions that begin with education.

Empowering all Communities with Real-Time Access to Payments: Nearly 1700 Financial Institutions Now Offer Zelle®

The Zelle Network® is open to any size financial institution that wants to give its customers access to real-time payments. Today, nearly 1700 banks and credit unions, including 100+ MDIs, offer Zelle® in their app. Throughout the past year, the company worked with its resellers on rebate programs for qualifying MDIs that sign up to offer Zelle®, giving their customers equitable access to financial services with additional tools to help meet their financial goals.

Disbursements, Business Payments Lead the Way in Q2 2022

Fortune 500 companies, including major online retailers, educational institutions, and national non-profits, are disbursing funds—tuition, rebates, settlements, insurance payments— as a fast and safe alternative to sending checks. In Q2 2022, the Zelle Network® achieved an 87% quarter-over-quarter increase in disbursement transactions. In addition, nearly eight million employees, contractors, and customers received payments from small businesses.

"Increased Zelle® usage by small businesses year over year is impressive," said Erika Bauman, director of commercial banking and payments at Aite-Novarica. "Our research shows that business adoption has more than doubled across the market. The rapid growth of Zelle® is due to greater efficiency, access to funds, and increased recipient satisfaction."

Overall payments in Q2 2022 equated to $155 billion sent through the Zelle Network® on 554 million transactions. Year-over-year payment values increased by 29%, while payment volume increased by 27%.

About Zelle®

Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle® makes it fast, safe, and easy for money to move. The Zelle Network® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people and businesses they know and trust with a bank account in the U.S. Funds are available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and its participating financial institutions, visit www.zelle.com.

About Early Warning Services, LLC

Early Warning Services, LLC is a fintech company owned by seven of the country's largest banks. For almost three decades, our identity, authentication, and payment solutions have been empowering financial institutions to make confident decisions, enable payments and mitigate fraud. Today, Early Warning is best known as the owner and operator of the Zelle Network®, a financial services network focused on transforming payment experiences. The combination of Early Warning's risk and payment solutions enables the financial services industry to move money fast, safe, and easy, so that people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

Scottsdale, AZ – Early Warning Services, LLC, the network operator of Zelle®, announced today more than 1,800 financial institutions (FIs) are part of the Zelle Network®. In 2022, 97% of FIs that joined the network have under $10 billion in assets.

"Banks and credit unions of all sizes are joining the Zelle Network® at a rapid pace because it drives higher engagement with their customers and members and enables competitive parity with large banks via their mobile app," said Al Ko, Chief Executive Officer at Early Warning. "The sheer volume sent through our network—more than a trillion dollars in the past two years—shows that consumers and businesses trust Zelle® for the financial moments that matter."

In 2022, consumers and businesses sent 2.3 billion Zelle® payments with a total value of $629 billion. Transaction volumes through the Zelle Network® increased by 26% year-over-year, and the total transaction value increased by 28% year-over-year.

Deepening Relationships with Consumers

An independent study by Curinos found that Zelle® brought substantial value to customers and financial institutions.

"Our study found that Zelle® drives more primacy to users' checking accounts," said Hank Israel, Director at Curinos. "The more people use Zelle®, the more they tap those same checking accounts to pay for goods and services they might otherwise have paid for with check, cash, or other P2P. "

The Curinos report found that previously disengaged customers at financial institutions had, on average, four times more debit card transactions than the control group after one year of using Zelle®.

Small Businesses Rely on Zelle® to Both Send and Receive
In 2022, small businesses—landlords, house cleaners, landscapers, consultants, etc.—received more than 150 million payments with Zelle®, totaling more than $72 billion, up 77% and 84%, respectively, from 2021.

In addition, small businesses are using Zelle® to pay their employees and rent. The number of unique small business senders increased by 66% year over year, with 133 million payments totaling more than $87 billion in 2022.

Protecting Zelle® Users
The company's ongoing dedication to consumer protection measures continues to combat fraud and scams. In the first half of the year, the company reported more than 99.9% of payments on the network were sent without any report of fraud or scams—the percentage continued to improve through 2022.

About Zelle®
Zelle® is transforming how money moves, with more than five billion digital payments sent since its launch in 2017. The Zelle Network® connects more than 1,800 financial institutions of all sizes, enabling consumers and businesses to send digital payments to people and businesses they know and trust with an eligible bank account in the U.S. Money is available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and participating financial institutions in the Zelle Network®, visit www.zelle.com. Zelle® is brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions.

About Early Warning Services, LLC
Early Warning Services, LLC is a fintech company owned by seven of the country's largest banks. For almost three decades, our identity, authentication, and payment solutions have been empowering financial institutions to make confident decisions, enable payments and mitigate fraud. Today, Early Warning is best known as the owner and operator of the Zelle Network®, a financial services network focused on transforming payment experiences. The combination of Early Warning's risk and payment solutions enables the financial services industry to move money fast, safe, and easy, so that people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

SCOTTSDALE, AZ – Early Warning Services, LLC, the network operator of Zelle®, today announces its Q2 2023 results—total Zelle transaction volume was 705 million with a value of $197 billion, 10% and 9% quarter-on-quarter growth, respectively.

More than 50% of MDI Banks in the U.S. Now Offer Zelle®

"At a time when technology is integral to bolstering customer growth, the National Bankers Association prioritizes partnerships with tech providers that strengthen banking services to small businesses and consumers," said Nicole Elam, President and CEO of National Bankers Association, which supports America's minority-owned and -operated banks. "We support the minority banks utilizing the payment platform Zelle® because of their unique role in providing financial services to communities."

Now over 2,100 bank and credit union brands offer Zelle® to their customers—consumers and small businesses—representing more than 80% of U.S. deposit accounts. MDI banks on the Zelle Network® increased by 26% year-over-year.

Enhanced Standards and New Education Go Above and Beyond for Consumers

All banks and credit unions on the Zelle Network® must implement Risk Insights for Zelle®. This free service gives institutions recipient risk attributes to assess potentially high-risk transactions and ultimately reduce fraud and scams. In addition, the network has a new consumer reimbursement benefit for specific scam types.

In 2023, Early Warning partnered with the Better Business Bureau Institute and their Corporate Trust Council, a coalition of companies dedicated to helping people avoid scams through education. The company also partners with the National Council on Aging (NCOA), working with the organization to develop and publish educational content on avoiding payment scams aimed at older Americans.

About Early Warning Services, LLC

Early Warning Services, LLC, a financial services technology leader, has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. We are also the company behind Zelle®, and the soon-to-launch Paze^SM, a wallet that reimagines e-commerce payments. Early Warning partners with more than 2,500 bank and credit union brands to increase access to financial services and products, and protect financial transactions. Learn more at www.earlywarning.com and connect on LinkedIn.

SAN FRANCISCO – Early Warning Services, LLC, the network operator of Zelle®, drove the popular person-to-person (P2P) service to new heights in 2023 as it provided financial empowerment for millions of Americans, grew its network reach, and led the industry in scam reimbursement efforts.

2023 highlights:

• Consumers and small businesses sent 2.9 billion transactions totaling $806 billion in 2023, both up 28% year-over-year.
• 120 million consumer and small business user accounts leveraged Zelle through their financial institution in 2023.
• Q4 2023 was the largest quarter to date, with users transacting more than $219 billion across the Zelle Network®. That means an average of more than $100 million was sent per hour.

“Powered by our unmatched reach through thousands of participating banks and credit unions – and enabled by our continued efforts to enhance security and educate consumers – Zelle soared to new heights in 2023,” said Cam Fowler, CEO of Early Warning. “As the digital payments growth engine for the U.S. financial services industry, the Zelle Network remains committed to providing consumers and small businesses a way to quickly and safely pay people they know and trust.”

Small businesses sent and received over $200 billion in 2023

Zelle helps eligible small businesses improve their cash flow, reduce the need to use cash or checks, and send and receive payments directly from their banking apps.

Last year, small businesses received 217 million payments through Zelle, totaling more than $100 billion – up 44% and 39%, respectively – from 2022.

In addition, small businesses are increasingly using Zelle for various payments needs, like paying employees, vendors, and office utilities, like office space rent. Small businesses sent 179 million payments totaling $113 billion, up 34% and 29%, respectively, from 2022.

Commitment to security

The Zelle Network, and all network participants, are subject to oversight by federal financial regulatory agencies.

• The company’s efforts to protect consumers and small businesses are paying off, with less than one-tenth of one percent of transactions reported as fraud or scams in 2023. That percentage continues to get smaller due to a layered security approach, including services like Risk Insights for Zelle, which provides network participants with real-time information to assess potentially high-risk transactions.
• In addition, in-app alerts remind users throughout the payments experience to only send money to people they know and trust. In 2023, Early Warning financial institutions cautioned users more than 700 million times before they made payments.

“The impressive Zelle momentum illustrates the trust that consumers have in making P2P payments through their financial institution, and rightfully so,” said Julie Conroy, chief insights officer at Datos Insights (formerly Aite-Novarica Group). “Early Warning has been detecting and outsmarting fraudsters for the U.S. banking industry for more than 30 years. Its relentless pursuit in protecting consumers and the industry adds much-needed layers of security to the payments ecosystem.”

Educating and empowering banking customers

Through partnerships with organizations like the Better Business Bureau, and the National Council on Aging, the recently launched Scam and Fraud Elimination (S.A.F.E.) Squad educational campaign, Zelle educated millions of U.S. consumers in 2023 alone. Additionally, Zelle provides educational materials that banks and credit unions use to educate their customers.

About Zelle®

Zelle® is transforming how money moves, with more than five billion digital payments sent since its launch in 2017. The Zelle Network® connects more than 2,100 bank and credit union brands of all sizes, enabling consumers and businesses to send digital payments to people and businesses they know and trust with an eligible bank account in the U.S. Money is available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and participating financial institutions in the Zelle Network®, visit www.zelle.com. Zelle® is brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions.

About Early Warning Services, LLC

Early Warning Services, LLC, a financial services technology leader, has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. We are also the company behind Zelle®, and the soon-to-launch Paze^SM, a wallet that reimagines e-commerce payments. Early Warning partners with more than 2,500 banks and credit unions to increase access to financial services and products and protect financial transactions.