B2B Faster Payments Platform Updates: Part 3, Zelle

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Data for today’s episode is provided by Mercator Advisory Group’s report – Business-to-Business Faster Payments: Market Review and Forecast 2018–2023

B2B Faster Payments Platform Updates: Part 3, Zelle

  • Currently about 300 financial institutions are integrated with Zelle
  • In 2017, Zelle processed $75 billion in transactions
  • In 2019, Zelle is forecasted to process over $160 billion in transactions
  • To this point, Zelle is mostly person-to-person transactions – but new use cases emerge:
  • Insurance Distributions – insurance companies distributing payouts to consumers
  • Higher Education – schools need to comply with Title IV, requiring prompt tuition reimbursement and receipts for compliance
  • Payroll & Wages – earned pay for the growing gig and freelance workforce

About this report

The pace has increased in the march toward ubiquity. Financial institutions of all sizes should be actively delivering or planning to incorporate one or more of the existing faster payments solutions for clients as business interest rises

Summary
B2B Faster Payments Platform Updates: Part 3, Zelle
Title
B2B Faster Payments Platform Updates: Part 3, Zelle
Description

The pace has increased in the march toward ubiquity. Financial institutions of all sizes should be actively delivering or planning to incorporate one or more of the existing faster payments solutions for clients as business interest rises

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