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Payments app Zelle is gaining ground on heavyweight PayPal





Zelle app

  • Payments app Zelle increased its total payment volume to $32 billion in the third quarter, according a new report.
  • Zelle is catching up to PayPal, which hit $36 billion in person-to-person payment volumes in the quarter.
  • Launched in 2017, Zelle is one of the biggest banking industry-backed efforts to thwart threats from financial technology competitors.

Zelle, the payments app launched a year ago by the biggest US banks, is steadily gaining momentum among mobile banking customers.

In the third quarter of 2018, Zelle processed $32 billion in payments, up 13% over the last quarter, according to a report issued on Tuesday read more >>>

Source:: BusinessInsider.Com

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