This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
06/17/2018
Already Ahead of Venmo in Dollars, Zelle Is Poised to Jump Ahead in Users, a Forecaster Says
Digital Transactions
Now officially a year old, Zelle is steadily gaining momentum. San Francisco-based Bank of the West, the 29th largest bank in the country ranked by assets, announced Thursday it will join the bank-controlled person-to-person payment network, which already claims some of the biggest financial institutions in the country.
Also this week, data emerged indicating Zelle this year will overtake its most-often-cited rival, PayPal Holdings Inc.’s Venmo service, to claim the most active users among P2P apps.
Bank of the West, a unit of the European banking firm BNP Paribas, expects to incorporate Zelle into its mobile app by the second quarter, according to a news release. The bank operates more than 600 branches in 23 states, aside from its digital properties. Now, it’s signing on with a P2P network that officially launched only last June to take advantage of a rapidly growing consumer appetite for converting casual payments from cash and checks to more or less instant digital transfers.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information