Zelle is here, a new, faster payments network from Early Warning that will revolutionize how U.S. consumers and businesses send and receive money. Zelle will launch in early 2017 and will be directly embedded within mobile banking channels of its network banks. A consumer-facing app for person-to-person (P2P) payments will be released in 2017.
Zelle will change how money moves, empowering millions of consumers with a faster, safer way to send and receive payments within the security of their financial institution.
Zelle will provide an intuitive and user-friendly experience for network bank customers who want to send, request, and split payments with their friends and family. Payments can be sent using just an email address or mobile phone number from within the mobile banking experience of network banks or using the Zelle app. Anyone with a valid checking or savings account can receive payments by quickly registering at ZellePay.com, or by using the Zelle app with a valid debit card account.
Zelle is an inclusive network that is open to all banks and credit unions in the U.S. At launch, Zelle will be one of the largest faster payments networks in the U.S., accessible to over 76 million mobile banking users nationwide. Nineteen financial institutions have joined the Zelle Network, including eight of the largest retail banks in the U.S.
The following financial institutions will join the Zelle Network: Ally Bank, Bank of America, Bank of the West, BB&T, BECU, Capital One, Citi, Fifth Third Bank, FirstBank, First Tech Federal Credit Union, Frost Bank, JP Morgan Chase, Morgan Stanley, PNC, USAA, U.S. Bank and Wells Fargo. Early Warning has partnered with payment processors CO-OP Financial Services, FIS, Fiserv, and Jack Henry, as well as global card networks Mastercard and Visa to offer banks and credit unions multiple integration pathways onto the network as well as to increase the speed-to-market for new network members.
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