Zelle was launched in 2017 as an alternative to peer-to-peer payment platforms like PayPal and its subsidiary Venmo.
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Anyone who’s had to split a check with new hostel friends knows rivals Venmo and Zelle only support payments between US users.
While the usual suspects are steadily spending more money on political lobbying, specific and quite new industries are diving in headfirst.
Major US banks are being probed by the Consumer Financial Protection Bureau (CFPB) over how they handle fraud on P2P payments app Zelle.