Payments app Zelle is gaining ground on heavyweight PayPal
|10/24/2018||Posted by BusinessMediaguide.Com under General World News||
- 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.