Mass Adoption of Zelle®--Signed Financial Institutions Represent Over 500 million DDA Accounts

- Nearly 1700 financial institutions (FIs) signed on to the Zelle Network®, representing 74% (577 million) of all U.S. DDA accounts

- Credit unions and banks under $10 billion in assets are driving growth, representing 40% of FIs in the Zelle Network®

- Small businesses and consumers sent 436 million payments worth $120 billion with Zelle® in Q2 2021

News provided by

Early Warning Services, LLC

Jul 29, 2021, 08:00 ET

SCOTTSDALE, Ariz., July 29, 2021 /PRNewswire/ -- Early Warning Services, LLC, the network operator behind Zelle®, announced its Q2 2021 transaction results, which include signed FIs representing more than 500 million DDA accounts. In Q2 2021, the Zelle Network® processed $120 billion on 436 million transactions. Year-over-year sent payment values increased by 68%, while payment transactions increased by 58%.

Credit Unions and Community Banks Turn to Zelle®

FI participants with less than $10 billion in assets now account for 40% of the Zelle Network®. Syracuse Fire Department Employees Federal Credit Union joins the network as the 1,000th FI to go live with Zelle®.

"By offering Zelle® in our app, we are giving our 6,000 members a convenient way to transact digitally," said Andrea Thune, CEO of Syracuse Fire Department Employees Federal Credit Union. "Our members are considered part of our family and rely on us for banking services that adapt to their lives. By joining the Zelle Network®, we now give them a service that allows them to transact with their friends and family no matter where they may bank."

"Zelle® plays the role of digital cash for tens of millions of people and businesses, giving them a fast, easy and safe way to send and receive money in an app they use and trust," said Al Ko, CEO of Early Warning. "First responders and their families are an important community, and it is an honor for Zelle® to now be a part of the financial services offered by Syracuse Fire Department Employees Federal Credit Union."

Zelle® Small Business Transactions Grow 157% Year- Over -Year

With the challenges of the past 18 months, businesses of all sizes have leveraged Zelle® when checks and cash were no longer options. Zelle® Small Business continues to be a fast-growth area in the network, growing 157% year-over-year.

Consumers should only use Zelle® to send and receive money with friends, family, and people they know and trust.

About Zelle®
Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle® makes it fast, safe and easy for money to move. The Zelle Network® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people they know and trust with a bank account in the U.S. Funds are available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle®. To learn more about Zelle® and its participating financial institutions, visit www.zellepay.com.

About Early Warning Services, LLC
Early Warning Services, LLC is a fintech company owned by seven of the country's largest banks. For almost three decades, our identity, authentication and payment solutions have been empowering financial institutions to make confident decisions, enable payments and mitigate fraud. Today, Early Warning is best known as the owner and operator of the Zelle Network®, a financial services network focused on transforming payment experiences. The combination of Early Warning's risk and payment solutions enable the financial services industry to move money fast, safe and easy, so people can live their best financial lives. To learn more about Early Warning, visit www.earlywarning.com.

Zelle and the Zelle related marks are property of Early Warning Services, LLC.

SOURCE Early Warning Services, LLC