Zelle is an Arizona-based financial technology company that has developed a mobile application for users to send and receive money.It partners with banks and credit unions so that its technology can be integrated into their online banking options.Partners of Zelle include US Bank, Citi Bank, Capital One, PNC Bank, and more.
The company's product is software that can be accessed via mobile applications. It is intended to be used by consumers as well as small businesses. Users can enroll their mobile number (United States only) or email through their own banking app or Zelle's app. Users can then enter a recipients U.S. mobile number or email address in order to send them money. Once a monetary amount has been entered, the recipient will receive instructions on how to complete the transaction.The company states that the transaction can be completed within minutes. Limits on the amount declared by the user's bank; if the user's bank is not partnered with Zelle, there is a $500 limit.
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