Zelle Says Money Transfers Jumped 27% in First Half of Year

Zelle, the peer-to-peer money transfer app, said network transactions jumped 27% during the first half of the year, with payments totaling almost $500 billion.

Consumers and businesses conducted 1.7 billion transactions across 143 million accounts during the first six months of 2024, according to a statement Thursday. Zelle is operated by Early Warning Services LLC, a consortium of major banks including Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. The average value of a transaction in the second quarter was $281.

Founded in 2017, Zelle was launched several years later than other payment services ...