Even though Zelle is backed by banks, it’s still trying to be fun and hip like Venmo.
But more than just stealing users from Venmo, Zelle is hoping to sign on the millions of consumers who don’t yet send money to their friends through an app — a.k.a. non-millennials.
“Through mobile banking, it’s a safe and secure way to bring P2P beyond just millennials into a mainstream audience,” said Early Warning vice president of marketing and branding Melissa Lowry.
Money sent through Zelle, Lowry said, will deposit in your account within minutes — a perk compared to Venmo’s multi-day cash-out period. That stands even when sending and receiving money from friends who use a different bank, since most major banks are using the same tool.
Apart from getting other age groups to try digital payment apps, Zelle wants to attract customers who’ve been too worried about security to sign up for Venmo.
Zelle will roll out to more banks and get its own standalone app within the coming months, the company behind the tool said. For now, you need a phone number or email address and a U.S. bank account to sign up.
Article courtesy Mashable.
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