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Early Warning Defends Zelle; Samsung Wallet Expands; Plus Weekly Recap
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In the Wake of a Senate Probe of Zelle Fraud, the Network’s Parent Issues a Pointed Defense
The controversy regarding fraud and scams on the Zelle peer-to-peer payment network reached a new level on Thursday with a short statement from Early Warning Services LLC, the bank-owned company that operates Zelle, referring to “misleading reports of fraud and scams” on the network and “incomplete” external analysis from outside …
Read More »All Debit Gets Choice, Fed Declares; Zelle Fraud Scrutinized; Zuza Marketplace Debuts
Legislative Pressure Mounts to Curb Fraud on Zelle
Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …
Read More »Zelle’s Big Results; Square’s Canada Gambit And Other Digital Transactions News briefs from 9/8/22
Early Warning And Its Zelle Network Celebrate Five Years of Rising P2P Volume
Underscoring the rapid growth of digital payments between individuals, the Zelle Network early Thursday celebrated five years in business with numbers showing it has processed more than 5 billion transactions worth almost $1.5 trillion. In that time, almost 1,700 banks and credit unions have added Zelle to their mobile apps, …
Read More »Zelle’s Big Results; Square’s Canada Gambit And Other Digital Transactions News briefs from 9/8/22
Block Inc.’s Square unit announced it has integrated accounting software from Sage into its point-of-sale software in Canada.A fintech called DailyPay launched a Visa-branded card called Friday that allows users to access earned pay before payday. The card is issued by The Bancorp Bank.Insurance-industry payments network ePayPolicy launched CheckMate, a facility that converts paper checks into …
Read More »BofA’s Zelle Volume Climbs; MX Debuts Processor Tokens; Apple Sued Over Apple Pay Fees
Zelle Volumes Climb Quickly for BofA, Surpassing Checks for the First Time
Five years after its launch, the Zelle person-to-person payments service continues to boost payment volumes for one of its founders, Bank of America Corp. BofA reported Monday that its second-quarter P2P Zelle transaction volume hit 239 million, up 26% from 189 million payments a year earlier. The value of the …
Read More »The Next Big Visa-Mastercard Rival Is…Zelle?
Is the Zelle peer-to-peer payments network soon going to the point of sale? That’s the big question raised by payments-industry experts after The Wall Street Journal reported in April that Bank of America Corp. and Wells Fargo & Co.—two of the seven big financial institutions that own Early Warning Services …
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