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To make it more convenient for its customers to send money using Zelle, the major peer-to-peer payment network operated by Early Warning Services LLC, Bank of America Corp. has developed a Zelle widget that can be added on the home screen of a mobile device. The widget will take BofA customers directly to the Zelle app without displaying account details at any point. This provides added security and privacy when making a payment using Zelle, the bank says.
“We’re always looking at innovations that deliver a convenient, safe, and seamless client experience while keeping them in control of their information,” Julie Harris, Bank of America’s chief digital executive, global banking and head of digital payments, says in an email message. “The Zelle widget makes sending money even easier because it’s right there on your home screen and clients can quickly click to securely send or request money.”
Bank of America has 15.1 million customers using Zelle, representing one-third of all Zelle users, BofA says. During the third quarter of 2021, BofA’s Zelle users sent and received 202 million transfers totaling $60 billion. Now, introducing the widget during the holiday-shopping season will make it easier for customers to send or request money via Zelle for gifts, family gatherings, and potential travel during this period, the bank says.
The widget is the latest technology introduced for use with the fast-growing Zelle service. Early Warning Services, of which Bank of America is a co-owner—along with BB&T, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo—reported Zelle processed $127 billion on 466 million transactions during the third quarter. Overall, the dollar value of payments sent during the quarter increased 51% from the same period a year ago and payment transactions increased by 44%.
