Operated by Early Warning Services, Zelle is owned by JPMorgan Chase, Bank of America and Wells Fargo.
They’re especially popular for person-to-person payments since they allow for near-instant money transfers.
In the first half of 2024, consumers and small businesses used Zelle to move nearlyhalf a trillion dollars.
Why is the CFPB suing Zelle?
Zelle’s technology uses tokens that users can link to email addresses or mobile phone numbers.
