Trends Report

Zelle Will Need To Prove Itself As The US P2P Payments Market Expands

With Zelle, Incumbents Have Signaled A Vigorous Push Into Person-To-Person Payments, But Zelle Alone Doesn't Revolutionize P2P

April 10th, 2018
With contributors:
Jacob Morgan , Gina Bhawalkar , Benjamin Ensor , Brendan Miller , Piers Conway , Sam Bartlett


Dozens of US banks have now rolled out Zelle, a P2P payments service, to offer customers the convenience of a Venmo-like amenity with quicker access to funds. More banks will follow suit, as Zelle is a useful addition to their online and mobile feature sets. But Zelle won't revolutionize P2P payments. Venmo and others will continue to innovate, forcing banks to keep up while finding ways to parlay Zelle into a new revenue stream or more than just another tool on their apps and sites. This report lays out our predictions for the future of Zelle and other P2P payment services.

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