U.S. banks’ Venmo alternative, Zelle, moved $75B last year, says 100,000 people enroll daily | TechCrunch

techcrunch.com

Zelle, U.S. banks’ answer to mobile payment services like PayPal and Venmo, claims that nearly 100,000 consumers, on average, are signing up for its service per day. The company also painted a picture of growing traction, noting it processed over 247 million payments in 2017, an increase of over 45 percent year-over-year, totalling $75 billion in peer-to-peer payments, up from $55 billion the year prior.

Zelle seems to be much more up-market with an average transaction size of >$300, although the metric of 100,000 "token enrollments" seems potentially misleading...

Read more...
Linkedin

Want to receive more content like this in your inbox?