By the numbers: Peer-to-peer (P2P) payments provider Zelle posted strong performance for 2022, even amid an economic environment that has taken a bite out of consumer spending overall.
- Zelle facilitated 2.3 billion payments, up 26% annually. While Zelle's business spans P2P payments, small and medium-sized (SMB) payments, and disbursements, volume is "overwhelmingly" P2P, Early Warning CEO Al Ko told Insider Intelligence: Just 150 million of those payments were SMB-related.
- Zelle users across all segments spent $629 billion in 2022, according to the firm—up 28% annually but a sharp moderation from 59% growth in 2021.
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