Zelle to overtake Venmo

tfb

Some of you may recall my predicting a bright future for Zelle at last year’s Payments 2017. Indeed, Zelle has not disappointed—as you’ll see in my just-published article for The Financial Brand:

Zelle on Trajectory to Crush Venmo

in War for P2P Payments

Since this time yesterday, the number of people enrolled in Zelle increased by 100,000. By this time tomorrow, that number will have increased by another 100,000. On average, anyway. At this rate, according to eMarketer and others, Zelle will outstrip current market leader Venmo this year.

Until recently, digital banking options covered most of the bases save one exception. Consumers could make digital payments to businesses, and businesses could make them to one another. But when a consumer owed a buddy a few bucks, for too long the only option was to hand over cash or write a check.

In a digital world, that’s an inconvenience at both ends. To marketers, of course, inconvenience at both ends indicates a need waiting to be filled, so it’s not surprising that Google, Apple, PayPal, Venmo, Square, and others have … [click here to read the entire article on The Financial Brand site]

Leave a Comment