Bank of America Launches First-Ever Zelle Widget for Easier Peer-to-Peer Payments

In December 2021, Bank of America was the first financial institution to launch the Zelle tool, with the goal of making it easier to send or request money through a peer-to-peer payment service on mobile devices.

Zelle is a US-based payment network that allows individuals to transfer money from a bank account to another bank account of registered users electronically, using a mobile device or a website of a participating banking institution.

Zelle is one of the most secure and efficient ways to send money, as evidenced by the 15.1 million Bank of America customers — which represents a third of all Zelle users — who sent and received a staggering 202 million transfers worth $60 billion in the third quarter of 2021.

Bank of America customers can add the widget on their mobile device’s home screen, providing quick and easy access to send or request money through Zelle during gift-giving season. Zelle will take customers directly to the app without viewing account details at any time, providing added security and privacy when making quick payments to and from friends.

Julie Harris, Chief Digital Officer, Bank of America, Global Banking and Head of Digital Payments
Julie Harris, Chief Digital Officer, Bank of America, Global Banking and Head of Digital Payments

The launch of Zelle tool was an important step for the bank, as many of their customers requested easy, convenient and secure banking solutions, Julie Harris, Explained the Chief Digital Officer of Bank of America, Global Banking and Head of Digital Payments.

She continued, “With 15.1 million Bank of America customers using the service to send and receive 202 million payments in the third quarter of 2021, Zelle has become an essential way for our customers to move and manage their money. Whether it’s paying rent or splitting the cost of a gift, Zelle is the way to go. Fast, secure and easy to send and receive money with family, friends and small businesses.

“We are always on the lookout for innovations that deliver a seamless experience for our customers, allowing them to be in control of their information. We wanted to provide our customers with a safer and more convenient way to send and receive money, especially during the busy holiday season. The tool makes sending money easier with just one click because it is right on your screen Home and available for both iOS and Android with the latest version of the Bank of America app.”

In terms of security when running the Zelle tool, Maintaining the security of customer information is a top priority for the Bank as it constantly provides new tools to enable customers to protect themselves and their information.

“When Bank of America customers use the tool, they log in using the same security as our app but go directly to the Zelle screen showing their contacts, simplifying the money flow to send/order,” Harris said. “This is especially convenient when you’re in public or standing near someone and you don’t want them to see your account information – you can just send or request money quickly.”

Looking at the trends we’re seeing now in payments, Harris concluded with her thoughts on where 2022 will take the industry.

She said: “The future of banking offers uniquely relevant experiences for every customer at every stage of their life. We do this through the Bank of America mobile app, and across all platforms, supporting the full scope of each customer’s relationship. This allows customers to bank, borrow and invest anytime and anywhere they choose. As customers increasingly turn to cashless solutions and mobile payments, Zelle is another example of how it is making it easier for our customers to better manage their financial lives.”

  • Polly Jane Harrison

    Polly is a North Wales journalist, content creator and opinion-maker. She has written for a number of publications, usually hovering around the topics of fintech, technology, lifestyle and body positivity.

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