Scottsdale, AZ., Jan. 28, 2020

Early Warning Services, LLC, the network operator behind Zelle®, today announced its Q4 2019 and 2019 full-year results. In Q4 2019, the Zelle Network® processed 230 million transactions, totaling $56 billion in money sent — an increase of 14% and 17% quarter-over-quarter, respectively. For the 2019 calendar year, the Zelle Network processed $187 billion in payments on 743 million transactions. Year-over-year payment values increased by 57%, while transaction volume increased by 72%.

 

“2019 was a monumental year, with one in two U.S. adults with a bank account gaining access to Zelle in their mobile banking app,” said Lou Anne Alexander, Chief Product Officer at Early Warning. “We achieved strong growth across the network including onboarding hundreds of national and regional financial institutions. We will continue growing and evolving Zelle with the hope that everyone with a bank account in the U.S. will have access.”

 

Currently, 766 financial institutions are contracted to participate on the Zelle Network, including 378 that are live today and processing transactions, representing nearly 70% of all U.S. checking accounts.  In Q4 2019 alone, more than 100 additional financial institutions, national and regional, joined the Zelle Network, helping further the way to national ubiquity.

 

Everyday Usage of P2P

 

At the close of 2019, person-to-person (P2P) was used as a payment vehicle by roughly 70% of online U.S. consumers[2]. For many consumers, Zelle became a larger part of their typical day-to-day interactions with friends, family members and coworkers. Gifting and splitting shared everyday costs—utilities, rent, meals, cell phone plans, tickets, etc.—continue to be the most common usages of Zelle amongst friends and family. Sending money with Zelle for birthday and holiday gifts is an increasing trend, as a recent 2019 Zelle survey found that money was the #1 preferred holiday gift