Zelle’s latest numbers suggest the bank-led payments network is still scaling at a pace that could matter for the broader digital payments landscape. Total volume on the platform rose 20% last year to more than $1.2 trillion, with an average of $3.4 billion moving every day in 2025. December marked a record month, as 100 million bank and credit union accounts used the service. Those figures could indicate that real-time bank transfers are becoming more deeply embedded in everyday financial activity, particularly during periods when liquidity and immediacy matter most.
Owned by Early Warning Services and backed by major banks including JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co., Zelle was founded in 2017 as the banking industry’s response to PayPal 
PYPL‘s Venmo and Block’s Cash App. The latest growth metrics may suggest that the bank-integrated model is resonating with users who prefer to move funds directly within their existing financial institutions’ apps. That embedded distribution, combined with institutional backing, could provide structural advantages as competition in peer-to-peer payments continues to intensify.
Importantly, nearly 30% of all money sent on Zelle last year moved to or from small businesses, pointing to a segment that could become increasingly central to its transaction mix. The company has previously said it plans to expand internationally, signaling that management may be looking beyond the domestic market for its next phase of growth. As Denise Leonhard, general manager of Zelle at Early Warning Services, noted, the ability to move funds immediately during uncertain times can act as a lifeline for consumers and businesses a dynamic that could help sustain engagement and transaction velocity if economic stress persists.