Zelle icon displayed on a phone screen and Zelle logo displayed on a screen in the background are seen in this illustration photo taken in Krakow, Poland.
Jakub Porzycki | Nurphoto | Getty Images
Zelle, the payments network run by bank-owned Early Warning Services, crossed $1 trillion in total volumes last year, which it said was the most ever for a peer-to-peer platform.
The firm said Wednesday that its user base jumped 12% to 151 million accounts in 2024, and that the total dollars sent on the platform jumped 27% from the year earlier.
Last year’s payment volumes were “by far the most money ever moved by a P2P payments service in a single year,” Denise Leonhard, general manager of Zelle, told CNBC.
Zelle, which was launched in 2017 in response to fintech platforms like Venmo, PayPal and CashApp, has some key advantages over those players. EWS is owned by seven of the biggest U.S. banks, including JPMorgan Chase, Bank of America and
