Coming Soon: Zelle®

Zelle® is a fast, safe, and easy-to-use tool for completing person-to-person (P2P) payments. Falling under the JHA PayCenter umbrella that connects credit unions to Faster Payments, this product helps credit unions meet and exceed member expectations!

Zelle. This is how money moves®.

Imagine your favorite band has a concert coming up that you and five friends plan to attend together. You’ve ordered tickets in a row together and have let your friends know the cost. How are they reimbursing you? Or, you’re out to dinner with a group and need to split the check when it arrives. Does everyone have cash? Or is there an easier solution?

The fastest, easiest way to send and receive money is by using a person-to-person (P2P) payments app.

Did you know that over 1,000 financial institutions of all sizes across the U.S. currently offer Zelle® in their banking apps or online banking? To meet member demand, and to compete with FinTechs and Big Techs in the digital era, credit unions must provide fast P2P payments solutions. Zelle® is one solution that can tie to both your core and your digital banking offering to provide members with the ability to move money in this P2P space.

Almost anyone with a U.S. checking or savings account can use Zelle®. With just an email address or U.S. mobile phone number, members can send money to people they trust, regardless of where they bank.

From a back-office perspective, Zelle® has full integration with mobile and online banking solutions, as well as with the Symitar® Episys® core. In practice, members will be able to take advantage of the service from within their existing credit union digital banking app.

“Zelle® meets member demand for P2P payments solutions,” said Karen Martin, Synergent Product Owner – Payments. “67% of community banks and credit unions report that their account holders are asking for Zelle® and in 2020 alone, 1.2 billion transactions were sent using Zelle®. Its usage continues to increase year-over-year, so we are pleased to offer this solution to our credit union partners.”

Key Benefits

  • Real-Time Person-to-Person Payment Capabilities: Credit unions will remain competitive while meeting member demand for real-time P2P payment services.
  • Positioned For Future Service Expansion: Real-time payments continue to evolve in terms of credit union capabilities and member-facing solutions. Falling under the PayCenter umbrella, this is one of many offerings poised to grow and evolve within the real-time payments space.
  • Seamless Integration: Connections to current and future real-time payment networks and digital toolkits support integration with third-party core and digital solutions.
  • Safe and Secure: JHA PayCenter leverages multi-layered data security. It also supports the Zelle® Network® token management for account status changes.
  • Member Convenience: With Zelle®, members can send and receive money to friends, family, and businesses in minutes, even if they have different financial institutions.

Learn More

To learn more about Zelle® and the ways it will add value to your credit union, please contact us today.

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