Zelle, A Digital Payment App Is About To Overtake Venmo in 2018

Zelle is a P2P Payment App owned by biggest banks in the US like Bank of America, Capital One, BB&T, PNC Bank, JPMorgan Chase, SunTrust, US Bank, and Wells Fargo. With its impressive offerings and great functionality, Zelle is acquiring a place in the hearts of many people and is all set to beat its tough competitors such as Venmo and Square Cash. The giant digital payment apps is on the track to become more popular than Venmo and Square Cash by the end of 2018.

Though Venmo and Square Cash seem to be the two main competitors of Zelle, there is a quite big difference between these famous digital payment apps.

Zelle integrates with your bank’s mobile app more effortlessly, since it is created by 7 prominent US banks. Furthermore, other digital payment services will make you wait for few days to receive the money from friends and come in your bank account; however, Zelle makes an instant transaction.

Considering these and many other differences, the eMarketer (Market Research Company) anticipate that Zelle will overtake Venmo and Square Cash in 2018.

According to eMarketer forecast, Zelle will grow up by over 73% this year to attain 27.4 million US users.

The eMarketer forecasting analyst Cindy Liu mentioned in a report that building a trust and sizable audience are the main hurdles for new apps. However, Zelle has effectively overcome these hurdles due to the benefit of being integrated into the existing apps of supporting banks.