BROOKFIELD, Wis.—Fiserv is reporting the 1,000th financial institution has now deployed its person-to-person transfer solution Zelle.
Zelle allows consumers to send and receive money directly from one U.S. bank account to another, typically within minutes when both parties are already enrolled, the company said.
“Turnkey Service for Zelle from Fiserv streamlines the Zelle onboarding process for financial institutions, helping to decrease costs and accelerate implementation timelines,” the company said. “Approximately 65% of all financial institutions that currently offer Zelle enable the service via Fiserv. And, since April 2022, these institutions have experienced a 34% increase in active users and a 36% increase in Zelle transactions.”
“Real-time, digital payments are now a must-have solution for financial institutions, as more of today’s consumers expect to be able to send and receive money instantaneously and directly using their bank accounts,” said Matt Wilcox, president of Digital Payments and Data Solutions at Fiserv.