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4 points

That’s just a different third party, though.

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7 points
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No? Is it? Isn’t Zelle just like a directory?

Either way it’s owned by the banks. It is the first party solution.

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3 points
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Then I think I was wrong, and you are right.

As someone not from the US I knew of zelle but never used it, and believed it was a direct competitor to Venmo or PayPal.

The reason I thought it was its own thing was because it has its own app, and a catchy silicon-valley-startup type name, and a brand logo, and all of that.

Contrast that to the UK where the ability to send free person-to-person payments has been integrated directly into the banking system for decades, and does not have it’s own brand, or app or anything.

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4 points

Zelle actually got rid of its app and is now incorporated directly in the banking apps themselves. It’s kind of like a browser extension where it has its own section in the banking app

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1 point

I don’t know for sure. But I do know that Zelle is the banks’ collective response to venmo.

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