Zelle is an American digital payments network run by a private financial services company owned jointly by Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo. The service lets individuals electronically transfer money from their bank account to another registered user's bank account using a mobile device or the website of a participating banking institution, with transfers between registered users typically completing within minutes. There is no fee charged to users for the transaction, since participating banking institutions are instead charged a fee per transaction.
Facts
Classification
Sector (GICS) Offering Kind Connections
Associated With
Zelle is a bank-backed peer-to-peer payment network, part of the fintech expansion of consumer finance practice.
Sources
1. Wikipedia: Zelle
WikipediaIntroduction, GICS sector classification
Zelle is an American digital payments network run by a private financial services company owned by Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S.
Introduction, offering kind classification
Zelle is an American digital payments network run by a private financial services company owned by Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S.
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