Zelle processes 100M transactions in Q2
Zelle processed 100 million transactions worth $28 billion on its platform for the second quarter that ended June 30, according to a press release.
Transaction volume increased 17 percent quarter-over-quarter and total money moved increased 11 percent. Across the entire Zelle Network, more than 67 million tokens have been enrolled.
Zelle celebrated its first anniversary on June 12 and in a year of operation has processed more than 320 million transactions valued at $94 billion. Transaction volume and transaction value are up 77 percent and 62 percent, respectively, from June 2017.
In the second quarter, consumers averaged six transactions, sending $281 on average per transaction.
"In a phenomenal year for the banking industry, consumers have embraced Zelle as a fast, safe and easy way to send money digitally," Paul Finch, CEO of Early Warning, said in a press release. "Zelle reaches more than 100 million consumers through mobile banking apps and millions more through our standalone app. Each month, we welcome more financial institutions to the network, moving closer to offering a ubiquitous payments service for banks and credit unions, large and small."