Building products onchain 🌐 | magma Fellow | Kernel Fellow

Zelle is definitely for the normies. Because they did a good job at partnering with banks and making an account directly connected to your bank through just your phone number.

Hate it or love it, Zelle had an excellent playbook by doing boomer sales and getting distribution. 

Probably a lesson in there for some crypto folk :)

Zelle != innovation. It was big banks reaction to the success of Venmo / CashApp.

Zelle was successful because it is owned by the big banks that have millions of existing #TradFi customers.

“Zelle is run by Early Warning Services, a fintech company owned by seven of the United States’ largest banks: JPMorgan Chase (JPM), Bank of America (BAC), Capital One (COF), PNC, Truist, U.S. Bank and Wells Fargo (WFC).”

Zelle doesn’t have to be profitable itself.

Chasing Curiosity. Empathetic Accelerationist. Founding Fullstack Engineer @icebreaker. YC S16, KB7. 
icbk.me/tayyab.fc

Zelle != innovation. It was big banks reaction to the success of Venmo / CashApp.

Zelle was successful because it is owned by the big banks that have millions of existing #TradFi customers.

“Zelle is run by Early Warning Services, a fintech company owned by seven of the United States’ largest banks: JPMorgan Chase (JPM), Bank of America (BAC), Capital One (COF), PNC, Truist, U.S. Bank and Wells Fargo (WFC).”

Zelle doesn’t have to be profitable itself.

https://www.forbes.com/sites/emilymason/2022/09/08/despite-a-late-start-bank-owned-zelle-moves-more-money-than-venmo-and-cash-app-combined/