Zelle is a digital payment network that allows users to send and receive money quickly and easily through their mobile banking app or online banking platform. It was created by a consortium of banks in the United States, and launched in 2017.
To use Zelle, users need to have a bank account with a participating bank, and their mobile number or email address must be linked to their account. Users can then send and receive money directly from their bank account, without the need for a separate payment service like PayPal. Zelle transactions are typically completed within minutes, and there are usually no fees associated with using the service.
Zelle has become a popular alternative to other payment services, particularly among younger generations who prefer the convenience of using their mobile devices for financial transactions. Zelle is also being adopted by more and more banks, making it easier for users to access the service directly through their existing banking relationships.
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