How Financial Institutions Adapt to the Challenges of Zelle P2P Payment Growth

Maintain accuracy, speed, and efficiency in reconciliation as channels and transaction volumes grow

Person-to-person (P2P) payments have increased exponentially in recent years. The initial surge happened during the COVID-19 pandemic, but P2P payments options have remained a popular payment channel as consumers are increasingly seeking fast, convenient payment options.

Demonstrating its continued growth, Zelle reported record payment volume and value in 2024 with 3.6 billion transactions, totaling over $1 trillion sent. That’s the most money ever sent by a person-top-person payments service in a single year. This amount represents a 25% increase for transactions and a 27% increase in the amount sent year-over-year.

The increase in online payments is a boon for consumers and the financial institutions that serve them. While consumers enjoy the time-savings and convenience of digital channels, financial institutions benefit from the increase in transactions. It’s a win-win, but it can be a challenge for finance and accounting.

Download this eBook for tips on how to manage P2P payment growth and avoid the risks it presents to financial institutions not poised to handle the increased transactions.