PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Keeping Track of the Evolving Growth of P2P Payments

By Sarah Grotta
October 24, 2018
in Analysts Coverage, Debit, P2P
0
2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Zelle Reports a New Payment Transaction Milestone, Zelle Founder Paul Finch, Zelle Fraud, banks promote Zelle to millennials

Zelle Reports a New Payment Transaction Milestone

Last week, Pay Pal announced earnings and also some growth numbers around its P2P service, Venmo.  Yesterday, Early Warning announced numbers for Zelle:

The latest figures represent a year-over-year growth rate of 67% in payment value and 83% in transactions. From the second quarter, volume grew 13% and transactions 16%. Over the past 12 months, bank-controlled Zelle says it has processed $106 billion on 375 million transactions. 

What isn’t disclosed is what other notable P2P providers might be doing such as how much person-to-person volume is flowing across Pay Pal’s namesake accounts, Square Cash, or what is still being conducted through financial institutions using processor provided Popmoney and PeoplePay. Although Venmo and Zelle don’t represent the entire market, as indicators, they suggest the market is still growing rapidly. Below is a chart of this year’s reported dollar value growth.

P2P Q3 Zelle, Venmo
Source: Venmo, Zelle Public Announcements

Combined, Pay Pal and Early Warning have transacted over $128 Billion so far this year, much of that as a cash or check replacement. Pay Pal doesn’t release the number of transactions, but Early Warning does, and what we see there is that transactions are increasing faster than dollar volumes. I would consider that a good thing.  The average Zelle transaction has declined from $294 to $276 from just 1st to 3rd quarter this year. This means that consumers are using this for more every day casual transactions and not just for splitting rent of making account to account transfers.

Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group

2
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: P2PVenmoZelle

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025
    agentic commerce

    The Agentic Advent: How the Next Iteration of AI is Shaping Commerce

    June 6, 2025
    payments hub, digital banking

    All in One: How a Payments Hub Eliminates the Pain Points

    June 5, 2025
    Vertical SaaS

    From Underdogs to Industry Leaders: How Vertical SaaS Powers Mid-Sized Firms

    June 4, 2025
    credit card surcharging

    A Perfectly Understandable Bad Idea: Why Merchants Should Reconsider Surcharging

    June 3, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result