The person-to-person payments network Zelle grew to 143 million enrolled users in the first half of 2024, with total transactions reaching $481 billion, up 28% year-over-year, network operator Early Warning Services said in its most recent activity report. Transaction volume on Zelle increased by 27% to more than 1.7 billion transactions sent by individuals and small businesses across the network.
Zelle users sent $1.8 million per minute, $110 million per hour and $2.6 billion per day in the first half of 2024, according to Early Warning Services. The company also highlighted its efforts to fight fraud on the network, noting that last year, reports of scams and fraud decreased by nearly 50%, resulting in 99.95% of payments being sent without a fraud report.