NEW YORK – Zelle® released the following statement regarding the politically-motivated lawsuit filed by the New York Attorney General that fails to acknowledge that scams don’t start on Zelle, they start with criminals manipulating people long before dollars move.

Statement attributable to Zelle spokesperson

“Zelle® leads the fight to stop fraud and scams in America. This lawsuit is a political stunt to generate press, not progress. The Attorney General wants to hand criminals a blueprint for guaranteed payouts with no consequences, opening the floodgates to more scams, not less. That’s bad policy and puts consumers at greater risk. This is nothing more than a copycat of the Consumer Financial Protection Bureau lawsuit that was dismissed in March. Despite the Attorney General’s assertions, they did not conduct an investigation of Zelle. Had they conducted an investigation, they would have learned that more than 99.95 percent of all Zelle transactions are completed without any report of scam or fraud – which leads the industry. The Attorney General should focus on the hard facts, stopping criminal activity and adherence to the law, not overreach and meritless claims.”

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 over 2,200 banks and credit unions 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.

NEW YORK – Zelle® released the following statement regarding the lawsuit filed by the Consumer Financial Protection Bureau (CFPB) that will harm the very consumers the Bureau is required to protect, hurt America’s small businesses and make it harder for community and minority-owned banks and credit unions to compete:

Statement attributable to Jane Khodos, Zelle spokesperson

For more information visit: www.zellepay.com/americans-rely-on-zelle

“The CFPB’s attacks on Zelle are legally and factually flawed, and the timing of this lawsuit appears to be driven by political factors unrelated to Zelle. Zelle leads the fight against scams and fraud and has industry-leading reimbursement policies that go above and beyond the law. The CFPB’s misguided attacks will embolden criminals, cost consumers more in fees, stifle small businesses and make it harder for thousands of community banks and credit unions to compete. Zelle is relied upon by 143 million enrolled American consumers and small businesses, and we are fully prepared to defend this meritless lawsuit to ensure their service does not suffer.”

Key Points:

• We have made every effort to engage and cooperate with the CFPB on this matter, however they fail to acknowledge Zelle is an essential part of protecting Americans from fraud and scams due to our highly effective multilayered fraud and scam prevention countermeasures. The Bureau also fails to acknowledge our consumer reimbursement policies that already go beyond legal and regulatory requirements.
   
• American consumers value Zelle as a reliable, convenient, trusted, and free peer-to-peer money transfer service.¹ In fact, in 2023, despite a 27% increase in transaction volume, reports of scams and fraud decreased by nearly 50%, resulting in 99.95% of payments being sent without a report of scams and fraud.
   
• The CFPB will also encourage rather than prevent criminal activity by incentivizing criminals to make false claims against banks and credit unions, while also removing incentives for consumers to exercise caution when sending money. And by requiring financial institutions to pay for the actions of criminals, thousands of financial institutions that provide Zelle – including many community and minority-owned banks and credit unions – will be forced to choose between offering Zelle or increasing fees for consumers to move money and pay everyday expenses. The CFPB’s attacks will unfairly shift the financial burden of criminal activity to community and minority-owned banks and credit unions – something smaller financial institutions cannot afford.
   
• Small businesses already face enough challenges, but the CFPB would have them face even more. In the first half of 2024 alone, small businesses conducted nearly 244 million transactions using Zelle, moving $129.5 billion dollars. Small business owners in communities across the U.S. rely on Zelle’s unique features to provide their customers with flexible ways to pay, to give their dedicated employees an on-the-spot bonus, and to quickly send money for a last-minute delivery.  If banks are forced to stop offering Zelle, it would take away a valuable, reliable and needed tool for America’s Main Street – the backbone of the U.S. economy.
   
• Zelle reimburses customers for all instances of fraud as required by the law under the Electronic Funds Transfer Act and Reg E, and today’s litigation from the CFPB does not dispute that fact. Zelle also goes above and beyond what is required by law and reimburses customers for certain types of scams where the customer authorized the transaction. Through this lawsuit, the CFPB would be simultaneously creating and enforcing entirely new legal requirements that go well beyond what Congress authorized the CFPB to do. This lawsuit would be part of the CFPB’s pattern and practice of regulatory overreach where the CFPB is attempting to impermissibly expand the law to require banks to reimburse consumers for transactions they authorized, which goes well beyond the clearly defined requirements established by Congress in the Electronic Funds Transfer Act.
   

¹ Based on a Q4 2023 survey of financial institutions offering Zelle® to their customers, 99.44% of consumer saving and checking accounts linked to Zelle® are not charged a fee to send, receive, or request money.

LAS VEGAS – Early Warning today announced Zelle^SM, a new, faster payments network that will revolutionize how U.S. consumers and businesses send and receive money. Zelle^SM will launch in early 2017 and will be directly embedded within mobile banking channels of its network banks. A consumer-facing app for person-to-person (P2P) payments will be released in 2017.

Zelle^SM will change how money moves, empowering millions of consumers with a faster, safer way to send and receive payments within the security of their financial institution. Zelle^SM will provide an intuitive and user-friendly experience for network bank customers who want to send, request, and split payments with their friends and family. Payments can be sent using just an email address or mobile phone number from within the mobile banking experience of network banks or using the Zelle^SM app. Anyone with a valid checking or savings account can receive payments by quickly registering at ZellePay.com, or by using the Zelle^SM app with a valid debit card account.

“Security concerns, interoperability problems, and delays in funds availability have been persistent challenges to awareness, adoption, and usage for non-FI P2P services,” said Talie Baker, an analyst with Aite Group’s Retail Banking & Payments practice who specializes in person-to-person payments. “Zelle^SM provides security, removes friction, and achieves ubiquity by being available and usable for consumers no matter where they bank. The launch of Zelle^SM gives banks a chance to establish a foothold as the provider of choice for person-to-person payments and even take back their share of the market from non-FI providers.”

Zelle^SM is an inclusive network that is open to all banks and credit unions in the U.S. At launch, Zelle^SM will be one of the largest faster payments networks in the U.S., accessible to over 76 million mobile banking users nationwide. Nineteen financial institutions have joined the Zelle^SM Network, including eight of the largest retail banks in the U.S.

“Zelle^SM will transform how people manage their financial lives, providing them faster, safer, and more convenient payment options with their friends and family,” said Paul Finch, chief executive officer, Early Warning. “We are pleased to partner with the leading financial institutions and financial service organizations in the country to make our vision for faster payments a reality for millions of consumers nationwide.”

"Zelle^SM is an always-on, easy to use mobile payment capability that gives our customers one more secure, convenient way to stay connected and live their financial lives,” said Brian Moynihan, chief executive officer of Bank of America.

“The Zelle^SM Network is an innovative, faster, and more secure way for PNC customers to send person-to-person payments,” said William S. Demchak, chairman, president and chief executive officer of The PNC Financial Services Group, Inc. “I believe our customers will appreciate the convenience and security of Zelle^SM when the network goes live early next year.”

“Paying a friend with Zelle^SM on a mobile device is the way of the future,” said Richard Davis, chairman and chief executive officer of U.S. Bancorp. “Zelle^SM is better for both the sender and recipient. There’s no waiting for a check to arrive, or stopping for cash on your way home to pay the babysitter. We’re delighted to be a part of the Zelle^SM Network as one of the first banks to offer Zelle^SM to our U.S. Bank customers.”

The following financial institutions will join the Zelle^SM Network: Ally Bank, Bank of America, Bank of the West, BB&T, BECU, Capital One, Citi, Fifth Third Bank, FirstBank, First Tech Federal Credit Union, Frost Bank, JP Morgan Chase, Morgan Stanley, PNC, USAA, U.S. Bank and Wells Fargo. Early Warning has partnered with payment processors CO-OP Financial Services, FIS, Fiserv, and Jack Henry, as well as global card networks Mastercard and Visa to offer banks and credit unions multiple integration pathways onto the network as well as to increase the speed-to-market for new network members.

SCOTTSDALE, AZ – Early Warning Services, LLC., the network operator behind Zelle®, today announced $119 billion in payments on 433 million transactions processed in 2018. In 2017, the Zelle Network® processed 247 million payments for $75 billion.

Zelle closed the year with its strongest quarter on record with $35 billion in payments on 135 million in transactions processed—an increase of 12% and 19% quarter-over-quarter, respectively. Year-over-year payment value (4Q 2017 to 4Q 2018) increased by 61%, while transaction volume increased by 81%. The results cap a successful 2018, with the number of participants in the Zelle Network reaching 229 financial institutions—60 of which are live and processing transactions.

Zelle is not just for large national banks. Eighty-five percent (85%) of participants in the Zelle Network are regional and community banks or credit unions with assets less than or equal to $10 billion, while 77% of participants list assets less than or equal to $1 billion. Together, participants are helping more than 100 million consumers replace checks and cash for the convenience and speed of person-to-person (P2P) payments.

“Our strategic processor partners are helping move Zelle closer to its goal of nationwide ubiquity—signing more than a hundred banks and credit unions in Q4 alone,” said Paul Finch, CEO, Early Warning. “Already, customers of more than 5,100 financial institutions are using the Zelle Network, whether it’s through their financial institution’s mobile banking app, or by registering their debit cards in the Zelle mobile app.”

“Eastern Bank has over 90 branch locations located in Massachusetts and Southern New Hampshire. Our mobile banking app provides clients with a secure, convenient P2P solution,” said Paul Alexander, Chief Marketing Officer, Eastern Bank. “Joining the Zelle Network has made it fast and easy to make digital personal payments. By allowing this, we are better meeting the needs of our customers and colleagues.”

Partnerships Lead to More Financial Institutions Joining the Zelle Network

Zelle partners—CO-OP Financial Services, FIS, Fiserv ®, and Jack Henry & Associates, Inc.®”—are working to enable thousands of financial institutions including community banks and credit unions across the U.S. to offer Zelle to their customers.

"Zelle brings person-to-person payments to consumers through the financial institution brands they know and trust. We are in active implementation and have developed a strong pipeline."

-    Todd Clark, President/CEO of CO-OP Financial Services

“Turnkey Service for Zelle from Fiserv offers financial institutions a simplified path to implementing ubiquitous, frictionless person-to-person payments. Demand for Zelle is high among financial institutions of all sizes because it gives consumers the flexibility to bank on their terms. We look forward to adding many more banks and credit unions to the Network in 2019.”

-    Tom Allanson, President, Electronic Payments, Fiserv, Inc.

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 to send fast person-to-person payments to friends and family with a bank account in the U.S. Funds are available directly in consumer 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

Creating the Future of Payments®, Early Warning delivers innovative payment and risk solutions to financial institutions nationwide. For over 25 years, Early Warning has been a leader in technology that helps money move fast, safe and easy. Learn more at www.earlywarning.com.

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

Fiserv is a registered trademark of Fiserv, Inc.

SCOTTSDALE, AZ – Early Warning Services, LLC, the company behind the popular Zelle® payments network, today announced a partnership with EVERFI, the leading social impact education technology company.

The partnership will provide more than 1,000 high schools and 50,000 students with free financial education courses on how to bank responsibly in the ever-changing digital era. With only 30% of college students reporting having taken a high school financial literacy course¹ , Zelle and EVERFI address an acute need for more financial education, especially given the rate of change brought on by ever-evolving technologies.

The partnership will be highlighted at the EVERFI Financial Capability Network Summit—a gathering of financial education experts—beginning today in San Juan, Puerto Rico. Rose Corvo, Chief Marketing Officer at Early Warning, will be on stage with EVERFI Chief Operating Officer, Ellen Patterson, to discuss why it’s so important to provide financial education to high school students. Corvo will share insights on how financial brands have a responsibility to empower students with the knowledge and tools to drive positive change in their communities.

”Banking is going through an unprecedented rate of change, improving our lives through speed and convenience, but also introducing a new set of risks for the uninformed,” said Corvo. “We’ve partnered with EVERFI to navigate this change and are committed to making sure the next generation has access to the knowledge to help them understand the impact of technology so they may thrive in this ever-changing landscape.”

Through this partnership, Zelle continues to demonstrate a commitment to financial education, which earlier this year included a partnership with Stacks House, the first pop-up with a purpose to promote women’s financial literacy and help close the gap between women and wealth in America. Last month, the brand began its Pay it Safe campaign aimed at educating consumers on how to safely send money digitally and avoid scams and fraud.

“Our partnership with Zelle is based on shared principles that we can do more together than alone, especially when it comes to inspiring social change,” said Ray Martinez President of Financial Education at EVERFI. “In the past decade, we have seen how education can transform lives. We welcome Zelle to our community of organizations, institutions, and educators to revolutionize the way education is developed and delivered—using today's technology to connect learning to the real world and equip communities with the skills they need for success in the 21st century.”

About EVERFI, Inc.

EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct, and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 30 million learners globally. EVERFI powers community engagement across the spectrum in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges and universities, and some of the largest corporations to leverage insights and connections to drive impact. Some of America's leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, Advance Publications, Rethink Education and Rethink Impact. To learn more about EVERFI visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.

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 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 empowered 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 enable the financial services industry to move money fast, safe and easy, so 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 behind Zelle®, today announced how consumers are best leveraging Zelle as they continue to practice social distancing and limit the use of cash.

The Importance of Digital Banking in the Movement of Money

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.

Since the beginning of March 2020, enrollments increased, running more than double-digit rates above average. More than half of consumers sending money with Zelle are ages 25-54, part of both the Millennial and Generation X demographics, while boomers, ages 55- 72, have recently increased their overall use of Zelle. These generations across the U.S. are enjoying the convenience of Zelle within their banking app, with funds typically available within minutes when both parties are already enrolled.

"As events have unfolded and lives changed, consumers are using Zelle to help those in need, and as a result, these heart-warming stories are strengthening connections with family, friends, and communities," said Lou Anne Alexander, Chief Product Officer at Early Warning. "To help foster these bonds, together with our financial institution partners, we are helping bring people closer by enabling them to send and receive money for help with rent, emergencies, shared groceries and gifts for celebratory events."

Currently, 837 financial institutions are contracted to participate in the Zelle Network® with more than half online today and processing transactions. For consumers who don't already have access to Zelle in their mobile banking app, the Zelle app provides an option for consumers to send and receive money with people they trust.  In total, nearly 7,000 financial institutions are represented in the Zelle Network via their customers using the Zelle app or their mobile banking app.

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 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 enable the financial services industry to move money fast, safe, and easy, so people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

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

SCOTTSDALE, AZ – Early Warning Services, LLC, the network operator behind Zelle®, today announced the release of a free curriculum of e-learning classes aimed at older Americans. These classes are developed through a partnership with social change nonprofit Older Adults Technology Services (OATS). OATS online, interactive courses, offered through its award-winning technology training program, Senior Planet, educate older adults on safe digital banking habits, including how to use person-to-person (P2P) payments. Zelle has worked with Senior Planet to co-create a robust curriculum for older adults to learn to use digital banking tools safely during the COVID-19 pandemic and beyond.

According to the latest Zelle data, more than one third of adults, aged 55-74, shared they are concerned about their risk of being targeted by financial scams or fraud.  In addition, more than 20% responded that since the COVID-19 crisis began they have adopted or plan to adopt a P2P payment service. This data combined with a recent survey from Senior Planet—finding 73% of older adults would like to take part in online learning—further showcases the necessity for easily accessible and inclusive digital education tools that meet the unique needs of older adults.

“The current global pandemic has forced changes in consumer behavior,” said Rose Corvo, Chief Marketing Officer for Zelle. “By partnering with OATS we are helping older adults transition safely to digital banking services, through education. Understanding how to use these services will help seniors transact safely from the comfort of their homes.”

COVID-19 Scams Target Vulnerable Populations

The FBI and FTC have issued warnings regarding scams related to the COVID-19 outbreak, noting that the rise in scams has included a range of tactics including email phishing campaigns, robocalls, fraudulent goods, and disinformation campaigns. In the era of self-isolation, older adults must understand how to safely use digital banking tools.

"We know that people 60 and older are among those most vulnerable to the financial scams that have cropped up since COVID-19, capitalizing on the culture of uncertainty,” said Tom Kamber, OATS executive director. “It's more important than ever for older adults to build the skills and tools needed to stay financially secure, so we're delighted to partner with Zelle to support older adults in connecting with their loved ones online and building digital financial literacy."

The free, online courses will be available weekly via the Senior Planet website starting on May 18 and will be available for 10 weeks. To learn more about the courses, visit seniorplanet.org/online. For additional resources on safe payments, visit www.zelle.com/digital-payment-education.

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 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 enable the financial services industry to move money fast, safe, and easy, so people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

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

SCOTTSDALE, AZ – Zelle®, in partnership with EVERFI, the leading social impact education technology company, today launched “Money Moves: Modern Banking & Identity Protection^TM”. The free digital education course, available to high schools across the United States, covers four essential areas of personal finance: 1) Foundational Financial Concepts; 2) Modern Digital Banking; 3) Identity Theft and Fraud Protection; and, 4) Peer-to-Peer Transactions.

“This course empowers students with the knowledge to make informed personal finance decisions in an ever-changing digital world,” said Rose Corvo, chief marketing officer at Zelle®. “Financial literacy is proven to be a key to future success. This course has the potential to change the lives of thousands of students, and we’re proud to offer it.”

A most recent Zelle® Consumer Payments Behavior report highlighted that 62% of Gen Z (ages 18-21) do not consider themselves the most financially literate generation. However, there is an appetite to learn and understand, as 76% of Gen Z consumers polled were interested in improving their financial literacy. EVERFI and Zelle® are helping ensure the next generation has access to the financial education they need and want.

“As our youth are coming of age in an increasingly cashless society, it is important that we teach them how to effectively manage their finances in a digital world,” said Ray Martinez, co-founder, and president, EVERFI. “Research has shown that providing basic financial education to children not only gives them essential financial knowledge and helps them acquire some planning capabilities but also helps them to develop some good financial habits at a young age. The focus of this course on digital banking and avoiding identity theft and fraud has been a much needed but missing piece of the financial education equation.”

Zelle® has committed to offering the course in 650 schools across the U.S. through 2021. Bank and credit union partners are invited to co-sponsor the program, bringing the course to even more students in their communities.

About EVERFI, Inc.

EVERFI is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 41 million learners globally. In 2020, the company was recognized as one of the World’s Most Innovative Companies by Fast Company and was featured on Fortune Magazine’s Impact 20 list. Some of America’s leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as well as Advance, Rethink Education, Rethink Impact, The Rise Fund, and TPG Growth. To learn more about EVERFI and how you can #answerthecall please visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.

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 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 empowered 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 enable the financial services industry to move money fast, safe, and easy, so people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

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

ANN ARBOR, MI – Cybercrime Support Network (CSN) today announced that Early Warning Services, LLC, the network operator of Zelle®, has joined the nonprofit collaboration as a lead sponsor. With cybercrime on the rise and the use of digital payment systems continuing to grow across the U.S., it's essential to educate the public on how to protect themselves. Zelle® and CSN will work together to spread awareness and educate consumers and small businesses on financial fraud and scams.

Pay it Safe – Resources and Tips for Safe Payments

An April 2021 study commissioned by Zelle® unveils key findings in consumer behavior around financial literacy. About a quarter of consumers surveyed report being a victim of a scam, and almost half report knowing someone who was scammed. 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.

By partnering with nonprofits, Zelle® is extending its focus on the consumer protection of fraud and scam issues related to current events, including COVID-19. As a sponsor of CSN, the company continues its obligation to help consumers transition safely to digital banking services through education.

"The Federal Trade Commission’s data shows that of reported fraud last year, in the fourth quarter alone, losses involving some form of payment system (credit cards, gift cards, wire or bank transfers) exceeded $434M. It’s not surprising that financial fraud and purchase scam resources are some of our most sought after on FightCybercrime.org," said Kristin Judge, CSN's CEO. "We are honored to collaborate with Zelle® to provide scam and fraud resources to reach even more individuals and small businesses impacted by cybercrime."

Early Warning's Director of Consumer Marketing, Alexis Castorina, and Sr. Director of Network Operating Rules, Julie Jeffer, will serve on the CSN advisory board, sharing their expertise and guidance for CSN's growing programs.

"As banking continues to evolve, it's important for us as a company to invest in consumer advocacy opportunities that help educate individuals and small businesses on digital banking safety and ways they can protect their identities online," said Castorina. "Through our partnership, CSN’s educational materials will be made available to all of our Zelle Network® partner financial institutions for distribution to their customers.”

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 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 Cybercrime Support Network

Cybercrime Support Network (CSN) is a public-private, 501(c)(3) nonprofit collaboration whose mission is to serve individuals and businesses impacted by cybercrime. With the strong support of our sponsors, Craig Newmark Philanthropies - AT&T - Capital One - Cisco Systems - Comcast - Early Warning - Google - Microsoft - NordVPN - Trend Micro - Verizon - Zelle, CSN can continue to support individuals and small businesses through FightCybercrime.org, a resource database for those impacted by cybercrime and online fraud, and ScamSpotter.org, a website to help identify scams and stop fraudsters. For more information, please visit Cybercrimesupport.org.

SCOTTSDALE, AZ – 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.

Today, consumers of nearly 8,000 financial institutions participate in the Zelle Network®, whether accessing Zelle® through their financial institution’s mobile banking app or enrolling their debit cards in the Zelle® mobile app.

"Every month, tens of millions of people use Zelle® in their financial institutions' mobile apps to send and receive money with friends, family, and businesses," said Al Ko, Chief Executive Officer at Early Warning. "By offering Zelle®, financial institutions are increasing customer engagement across all their digital banking services and remaining at the center of the modern banking experience. We continue to focus on increasing adoption among consumers and businesses alike, while also reinforcing how to use digital payments safely."

As More Money Moves, Investing in Consumer Education Becomes More Critical

Through its Pay It Safe initiatives, Zelle® partners with organizations to offer free financial education to consumers through modern banking courses and consumer protection resources. Through a strategic partnership with EVERFI—the leading social impact education technology company—Zelle® has reached more than 39,000 students in 47 states. Results show that high school students achieved a 39% average knowledge gain after taking the Zelle® Money Moves: Modern Banking & Identity Protection™ course. The Cybercrime Support Network recently announced a partnership with Zelle®, and this partnership will spread awareness and educate consumers and small businesses on avoiding financial fraud and scams.

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 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 enable the financial services industry to move money fast, safe and easy, so people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

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