Zelle, A Payment System 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.

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Conclusion

As the number of Smartphone users is increasing drastically, more and more cashless p2p payment app like Venmo, Zelle, and Square Cash are emerging with unique offerings. The backing of well-known banks of US and efficient functionality are the two plus points of Zell that are leading it to become most popular digital payment app of 2018.

Do you have any unique idea to build a p2p payment app? Just get in touch with us to implement it into reality and get enormous success similar to the other p2p payment app like Zelle, Venmo and Square Cash.