FF News Logo
Monday, April 20, 2026
Bottomline x FFNews

Breaking News

InsurTech NY: General Magic on How AI Text Agents Are Cutting Insurance Quote Time NOTO: Why AI Fraud Prevention Needs Human Interaction to Beat the ‘Tick in the Box’ Mentality MPE 2026: Mastercard and Deutsche Bank on Reducing Complexity for Merchants InsurTech NY: QuickFacts on Broker Data Houston Fraley on Why Security Is the Foundation of Trust in FinTech Fintech Meetup 2026: What Brings You to Fintech Meetup This Year? Pay360 2026: Why Are People Attending Pay360 2026? Finastra: Balancing Innovation and Trust in Payments NatWest Group to Expand Scope of Financial Education Into UK Workplaces to Help Address Confidence Gap Guidewire Launches ProNavigator, Embedding Expert AI Insights into Insurance Workflows Kin Launches Direct-to-Consumer Home Insurance in Oklahoma Slash Achieves Unicorn Status Following $100m Series C Fundraise City of San Diego Selects Klear.ai in a Highly Competitive Process to Modernize Risk Management Operations BingX Renews Chelsea FC Partnership, Bolstering Leadership in Global Sports Strategy Alkami to Expand GenAI Capabilities with the Launch of Alkami Code Studio

January 15 2018

Zelle Takes Cashless Payments to New Heights

Share this post:

Share on LinkedIn Share on WhatsApp

Bank of America Heads Into New Year With Record P2P Growth

Bank of America announced record-breaking person-to-person (P2P) payments use, as its customers increasingly make the move to cashless solutions.

Bank of America saw total Zelle transactions for 2017 hit nearly 68 million, an 84 percent growth rate from the previous year. In Q4 alone, Bank of America processed over 23 million transactions, totaling nearly $7 billion, up 91 percent from the prior year.

And the cashless trend continues to take off in 2018. Currently, Bank of America has nearly 3 million active Zelle users, and continues to add thousands of new users every day.

“We’re excited to see the overwhelming growth, as customers increasingly turn to mobile payments that are fast, safe and easy,” said Mark Monaco, head of Enterprise Payments at Bank of America. “Zelle is another example of how we’re making it easier for customers to better manage their financial lives.”

Bank of America is one of the seven owner banks of Early Warning Services, LLC, the company behind Zelle. It was one of the first banks to incorporate the benefits and features of the Zelle experience within its mobile banking app in early 2017.

Zelle makes it easy for consumers to send, receive and request money, allowing them to use the existing contacts on their mobile device. Funds are sent from one bank account to another typically within minutes, when both parties are enrolled, using only a recipient’s email address or mobile number.

Bank of America is one of the participating banks that offer users a split feature in its mobile banking app – for dividing expenses among multiple contacts or friends, such as a group dinner check – and the ability to add a personal note along with the payment transfer or request

To learn more about P2P updates or download an infographic, visit bankofamerica.com.

  1. InsurTech NY: General Magic on How AI Text Agents Are Cutting Insurance Quote Time

    Insurtech

     Read more
  2. NOTO: Why AI Fraud Prevention Needs Human Interaction to Beat the ‘Tick in the Box’ Mentality

    Fintech TV

     Read more
  3. MPE 2026: Mastercard and Deutsche Bank on Reducing Complexity for Merchants

    Event Videos 2026

     Read more
  4. InsurTech NY: QuickFacts on Broker Data

    Insurtech

     Read more
  5. Houston Fraley on Why Security Is the Foundation of Trust in FinTech

    Thought Leadership

     Read more
Financial Services Risk & Compliance
More On