Hardly a Venmo killer, banks are being cautious with Zelle rollout

Banks aren’t ready to call Zelle’s hyped entry into the peer-to-peer payments space a Venmo killer, at least not yet.

Early Warning, the company owned by a consortium of major U.S. banks that runs the peer-to-peer payments network, announced Monday that the volume of payments made through that channel were valued at $55 billion last year — more than double that of Venmo for the same period. But banks are holding off the ad blitz for now.

Read the full story on tearsheet.co

https://digiday.com/?p=232759

More in Marketing

Best Buy, Lowe’s chief marketing officers explain why they launched new influencer programs

CMOs launched these new programs in response to the growing importance of influencers in recommending products.

Agencies create specialist units to help marketers’ solve for AI search gatekeepers

Wpromote, Kepler and Jellyfish practices aim to illuminate impact of black box LLMs’ understanding of brands search and social efforts.

What AI startup Cluely gets — and ad tech forgets — about attention

Cluely launched a narrative before it launched a tool. And somehow, it’s working.