Zelle moved $75B in funds through network in 2017
Early Warning Services announced that the Zelle person-to-person network saw $75 billion in funds moved throughout the system that connects several major banks, according to a press release.
Early Warning said the $75 billion was an increase of 36 percent year-over-year from 2016’s totals of $55 billion when Zelle was previously known as clearXchange. The Zelle network processed more than 247 million payments in 2017, an increase of more than 45 percent YoY on the 170 million transactions processed in 2016.
In the fourth quarter of 2017 alone, the network moved $22 billion, up 14 percent quarter-over-quarter on more than 75 million transactions, up 18 percent quarter-over-quarter.