In Zelle’s national advertising campaign, the bank-run P-to-P network spotlights consumers paying a personal trainer, a babysitter and a neighbor. It sets an expectation that Zelle can be used like a credit card, and scammers have figured out how to exploit this trust. Experts suggest that Early Warning, which operates Zelle, needs to sharpen its…
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The banks behind the Zelle network had more in mind than P-to-P payments between consumers, and BNY Mellon is beginning the network’s evolution by targeting business payments market. Zelle will help support tokenized digital payments for institutional and corporate clients in a market that is notoriously resistant to automation. BNY Mellon hopes corporates will see…
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It’s clear now that the launch of Zelle last year was far more than a skin-deep rebranding of the years-old clearXchange network, as the P-to-P payments network announced some sizable gains over its past performance. To date, more than 60 financial institutions have joined the Zelle network with participants representing half of U.S. demand deposit…
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