Banks already connected through Early Warning have a huge base of customers who could use Zelle.
The banks handled 100 million instant payments, worth $33.6 billion (£25.46 billion) in the first half of 2017, mostly before the Zelle name appeared, according to Early Warning.
The banks started teaming up in instant payments more than six years ago, but have picked up their pace because Venmo’s volume is doubling annually and Apple Inc (AAPL.O) is adding tools for payments between users of its devices.
Sarah Grotta, a payments expert at Mercator Advisory Group, said Zelle needs an app that works well for people with accounts outside of the connected banks.
For example, sending to someone who has not registered an account can result in delays until Early Warning checks for fraud.
Tennis – US Open – Mens Final – New York, U.S. – September 10, 2017 – Rafael Nadal of Spain holds the trophy after defeating Kevin Anderson of South Africa.
REUTERS/Mike SegarNEW YORK (Reuters) – A relentless Rafa Nadal thumped Kevin Anderson 6-3 6-3 6-4 to win the U.S. Open on Sunday, earning the Spaniard his second grand slam title of the season and 16th of his career.
It marked the fourth U.S. Open final and third title for Nadal but the first time without Novak Djokovic on the other side of the net.
Tennis – US Open – Mens Final – New York, U.S. – September 10, 2017 – Rafael Nadal of Spain reacts after defeating Kevin Anderson of South Africa.
With the title within sight, Nadal locked in on the prize, breaking Anderson to open the final set.
collected by :Ros Roger