Consumers and businesses sent 2.3 billion payments with a total value of $629 billion through the Zelle Network in 2022, parent company Early Warning Services announced today. More than 99.9% of payments on the network were sent without any report of fraud or scams.
Small businesses received more than 150 million payments with Zelle, totaling more than $72 billion, the company said. In addition, the number of unique small-business senders increased by 66% year over year, with 133 million payments totaling more than $87 billion in 2022.
EWS also said the number of financial institutions that are part of the Zelle Network increased by 40% last year. The network currently has more than 1,800 financial institutions. Ninety-seven percent of institutions that joined in the last year have less than $10 billion in assets.