From CNBC: 2025-02-12 08:16:09

Zelle, a payments network owned by Early Warning Services, hit $1 trillion in total volumes in 2024, with 151 million accounts. The platform saw a 27% increase in dollars sent. Zelle, backed by big banks, offers instant transfers within member apps, outpacing PayPal in growth last year.

Despite accusations of fraud oversight, Zelle’s popularity is rising as consumers shift from cash to digital payments. Small businesses are also adopting the platform. Zelle aims to remain a top choice for everyday transactions like rent and nanny payments.

Read more: Zelle payments top $1 trillion in 2024