In 2022, 97% of FIs that joined the network have under $10 billion in assets.

"Banks and credit unions of all sizes are joining the Zelle Network® at a rapid pace because it drives higher engagement with their customers and members and enables competitive parity with large banks via their mobile app," said Al Ko, Chief Executive Officer at Early Warning. "The sheer volume sent through our network— more than a trillion dollars in the past two years — shows that consumers and businesses trust Zelle® for the financial moments that matter."

In 2022, consumers and businesses sent 2.3 billion Zelle® payments with a total value of $629 billion.

In 2022, consumers and businesses sent 2.3 billion Zelle® payments with a total value of $629 billion. Transaction volumes through the Zelle Network® increased by 26% year-over-year, and the total transaction value increased by 28% year-over-year.

Deepening Relationships with Consumers

An independent study by Curinos found that Zelle® brought substantial value to customers and financial institutions.

"Our study found that Zelle® drives more primacy to users’ checking accounts," said Hank Israel, Director at Curinos. "The more people use Zelle®, the more they tap those same checking accounts to pay for goods and services they might otherwise have paid for with check, cash, or other P2P. "

The Curinos report found that previously disengaged customers at financial institutions had, on average, four times more debit card transactions than the control group after one year of using Zelle®.

Small Businesses Rely on Zelle® to Both Send and Receive

In 2022, small businesses— landlords, house cleaners, landscapers, consultants, etc.— received more than 150 million payments with Zelle®, totaling more than $72 billion, up 77% and 84%, respectively, from 2021.

In addition, small businesses are using Zelle® to pay their employees and rent. The number of unique small business senders increased by 66% year over year, with 133 million payments totaling more than $87 billion in 2022.

Protecting Zelle® Users

The company’s ongoing dedication to consumer protection measures continues to combat fraud and scams. In the first half of the year, the company reported more than 99.9% of payments on the network were sent without any report of fraud or scams—the percentage continued to improve through 2022.