Zelle processed $1T last year

Zelle announced that it processed over $1 trillion in transactions in 2024, which it claims is the most ever moved by a peer-to-peer (P2P) payment platform in a year.

Its user base grew 12% to 151 million accounts, with transaction volume rising 27% from the previous year.

Backed by major banks like JPMorgan Chase and Bank of America, Zelle offers instant money transfers through banking apps. It outpaced PayPal’s $400 billion in P2P payments.

Despite fraud concerns, Zelle says 99.95% of transactions are secure. More people and small businesses are using it to make payments like rent and wages, making it a leading choice in digital payments.