SCOTTSDALE, Ariz.–More than $39 billion was transferred through the Zelle Network during the first quarter, representing some 147 million transactions in all.
Early Warning Services, the network operator behind Zelle, said year-over-year payment values increased by 54%, while payment volume increased by 72%.
"This past quarter Zelle achieved several milestones towards our goal of nationwide ubiquity," said Lou Anne Alexander, group president, payments solutions at Early Warning, in a statement. "Our core processor partners have achieved tremendous results, signing more than a hundred and thirty banks and credit unions in Q1. In addition, our new marketing campaign was launched, tapping into everyday use cases of Zelle, designed to drive deeper knowledge and relevance with consumers."
Early Warning Services said 5,391 financial institutions are now using the Zelle Network. The figures include transfers via financial institutions’ mobile banking apps and debit cards that have been registered in the Zelle mobile app.