> to company reports, Zelle processed $35 billion in P2P (person-to-person) payments in Q4 2018 versus $19 billion for Venmo. The thing that makes this a bit t

> to company reports, Zelle processed $35 billion in P2P (person-to-person) payments in Q4 2018 versus $19 billion for Venmo. The thing that makes this a bit trickier is that Zelle is transparently used under the hood by some banks to move money between accounts owned by the same person. I've moved thousands of dollars between two of my accounts with Zelle but the alternative would have been an ACH transfer or depositing a check to myself, not Venmo. I know it's just one anecdote, but when splitting a check, my social circle always reaches for Venmo, never for Zelle. And yet I've probably moved more total money via Zelle because I occasionally use it for different, higher-value transactions. There's some selection bias at play for different transaction types (including many where people might not even realize they're using Zelle) so we should be careful looking at only the headline numbers.