Zelle is Becoming more Popular and Problematic

Zelle is seeing thousands of signups each day and last year saw $75bn in payments, but fraud has become a bigger problem for the company; fraudsters have used some weaknesses like inconsistent notifications when money is sent or received and the speed of transactions because the full posting happens later; they have also seen spoof emails or texts which trick customers into authorizing transactions to a fraudster, Zelle and the banks say they are working on improving the issues. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.