Comment by xp84
3 hours ago
Don't forget Venmo - PayPal smartly gobbled that up many, many years ago, and it has a great amount of mindshare (though I don't know how profitable it is). Zelle popped up later and somehow has plenty of users, but unlike Venmo, Zelle is a steaming pile of sh*t of user experience, due to it being a consortium of all the famously-tech-backwards big banks, which stood it up out of fear and jealousy that those "Internet" guys might find a way to disintermediate them somehow.
Zelle was built to preempt FedNow. The banks saw what was coming and wanted to own instant payments.
https://www.frbservices.org/financial-services/fednow/about....
> Zelle popped up later and somehow has plenty of users,
At least for me, Zelle is something I can do in my bank app, so I don't need to work with anything I wasn't already using.
It feels a lot easier to use than Venmo, but I dunno. It's one of like 7 options I have to transfer in the bank app.
what's the problem with zelle? it works in my bank app, it's fast, no fees, it's really easy to use