Project Description

Snapping Fingers And Mobile PhonePaying the babysitter. Splitting the dinner check with friends. Sending birthday money to nieces and nephews. What used to be check- or cash-intensive transactions, consumers now handle in just a few clicks, through efficient digital services like Zelle®.

Americans have embraced the convenience and simplicity of person-to-person (P2P) payments in record numbers. The Zelle network, a leader in P2P payments, moved more than $75 billion in 2017, with an average of 100,000 individuals enrolling each day.1

Now, businesses can capitalize on Zelle’s strength and reach for business-to-person (B2P) payments. With only a consumer’s email address or U.S. mobile phone number, your organization can send money to virtually any financial institution customer in the U.S., with funds deposited directly to their bank account.

Make payments a competitive advantage

Moving from checks to Zelle makes sense for companies and consumers. A positive payments experience can differentiate your brand in the market, and reduce the headaches associated with checks, such as escheatment and fraud. Digital payments save time for consumers by eliminating the wait for checks to arrive in the mail and trips to the bank. Simultaneously, they reduce the workload for accounts payable, compared to checks.

Here are four additional reasons to get started with Zelle today:

  • It’s huge. Zelle is available to more than 95 million people through their bank, enabling your business to pay almost anyone with a U.S. bank account.1 Zelle can reach 97% of debit card holders and nearly 80% of all online DDA account holders in the country.2
  • It’s seamless. Consumers send Zelle payments one-at-a-time through the Zelle mobile app or their online banking service. It’s even more intuitive and integrated for your business to initiate Zellepayments. Just enroll with your bank, then upload your entire Zelle payment file; the bank takes care of executing the transactions and remittance notifications. There’s no need to manage a separate payment channel or technology.
  • It’s simple. With the ping of a text message or email notification, your consumer knows a Zelle payment is headed for their bank account. For the millions of individuals already enrolled in Zelle, receiving a B2P payment is as simple as that. When you pay a consumer who hasn’t registered yet, the message notifies them that payment is ready, and guides them through the one-time enrollment process.
  • It’s secure. While Zelle payments move electronically between bank accounts, your business never receives, transmits, or stores any sensitive bank account information. The network, backed by more than 90 banks and credit unions, applies proven financial processes, stringent cybersecurity standards, and sophisticated authentication and monitoring features to keep information safe and payments secure.2

Zelle transactions can streamline consumer payments for healthcare organizations, utilities, government agencies, law firms, insurance companies, property managers — and more. From refunds and rebates to settlements and claims payments, any company that pays consumers can set itself apart with Zelle.

For more information, contact your treasury management representative.

1. Early Warning Services, “Zelle® Moves Record $75-Billion in 2017,” January 29, 2018
2. Early Warning Services, “Market Trends for Real-time Money Movement with Zelle®,” webinar, March 2018