Zelle processed transactions of over $ 1 trillion in 2024, indicating the very best amount ever sent by the non-public payment service in one 12 months. The platform also recorded a significant increase in the scale of transactions and registration of users, strengthening its role in the principal financial tool for consumers and small firms.
Zelle has reported 151 million saved user accounts, which is a rise of 16 million in comparison with the previous 12 months. The volume of the transaction increased by 25% to three.6 billion, while the whole dollar amount sent on the platform increased by 27% 12 months on 12 months. The fourth quarter of 2024 was the strongest in the history of Zelle, powered by holidays and payments of rent.
“Zelle is not only a popular way of sending money, it is an important tool that transforms the way of moving money throughout America,” said Denise Leonhard, general director of Zelle. “This is a peer-to-peer payment method for millions of hard-working Americans, and this milestone is a testimony to the trust they impose on us every day. We remain focused on the extension of access to Zelle, because it unlocks the possibilities for natural persons, small companies, social banks and credit unions. “
Zelle continues to be a obligatory payment solution for small firms, offering quick and secure transactions. In 2024:
- 23 million users of Zelle made payments to small firms in the fourth quarter.
- Small firms have sent or received over 500 million transactions, which is a rise of 32% from 2023.
- These transactions amounted to $ 283 billion, which is a rise of 32% 12 months on 12 months.
The owners of small businesses depend on Zelle to quickly receive payments, resolve the balance of suppliers and compensate for workers, providing immediate access to funds that drive business activities.
Zelle has expanded its range to over 2,200 financial institutions, with 95% of them are social banks and credit unions. Many of these institutions serve rural and minority banking communities in which financial services options are limited. According to a survey conducted by Zelle users:
- 74% of respondents said that Zelle had a positive impact on their perception of the bank.
- One in three users said that it will go to a financial institution offering Zelle if their current bank interrupted the service.
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