Fifth Third Bank To Offer Real-Time Person-to-Person Payments
October 24 2016 - 9:33AM
Business Wire
Bank Joins ZelleSM Network to Help Customers
Make Safe, Fast and Simple Payments
Fifth Third Bank announced today that it will join Early
Warning’s Zelle Network to offer customers a safe and fast way to
make person-to-person (P2P) payments. With Zelle, money can be sent
by simply using the recipient’s mobile number or email address.
Fifth Third customers will have access to real-time payments with
Zelle in 2017.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20161024005828/en/
Fifth Third Bank announced today that it
will join Early Warning’s Zelle Network to offer customers a safe
and fast way to make person-to-person (P2P) payments. (Photo:
Business Wire)
“Fifth Third is excited to offer additional services to our
customers allowing them to make P2P payments that are simple, safe
and received in real time,” said Greg Carmichael, CEO and president
of Fifth Third Bancorp. “We are looking forward to working with
Early Warning to offer Zelle and continue to enable customers to
bank when they want and how they want.”
About 15 percent of consumers say they make P2P payments daily
or weekly, according to a 2015 study on digital payments. But many
current products don’t allow immediate payments. More than half of
consumers surveyed said they would use P2P more often if payments
were immediate.1
“We looked at what our customers want, and they want making
payments to be fast and simple,” said Chad Borton, Fifth Third’s
head of Consumer Banking. “Zelle combined with our award-winning
mobile solution provides our customers with another option to
manage their financial needs.”
Accessing Zelle through Fifth Third is free and makes it easy to
send money to a friend, whether to split the cost of dinner or pay
the rent on an apartment.
“The addition of Fifth Third represents a significant milestone
as Early Warning continues to expand the Zelle Network making
faster, safer payments accessible to almost anyone nationwide,”
said Paul Finch, chief executive officer for Early Warning. ”Fifth
Third is a leader in innovation, and Earning Warning is pleased to
work together to provide Fifth Third customers with access to
faster P2P payments through Zelle.”
Zelle is safe: Fifth Third customers will benefit from the
convenience of real-time P2P payments and the security that banks
provide their customers.
Zelle is fast: Zelle will enable Fifth Third customers to send
and receive faster payments, with funds accessible by the recipient
within minutes.
Zelle is simple: Fifth Third customers can use Zelle through
their Fifth Third mobile banking app.*
*Mobile Internet data charges may apply as well as text
messaging charges. Contact your mobile service provider for
details.
1 According to a 2015 Accenture study that surveyed 4,000 adults
in the U.S. and Canada.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of September 30, 2016, the
Company had $143 billion in assets and operates 1,191 full-service
Banking Centers, including 94 Bank Mart® locations, most open seven
days a week, inside select grocery stores and 2,497 ATMs in Ohio,
Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West
Virginia, Georgia and North Carolina. Fifth Third operates four
main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Wealth & Asset Management. Fifth Third also has an
18.3% interest in Vantiv Holding, LLC. Fifth Third is among the
largest money managers in the Midwest and, as of September 30,
2016, had $314 billion in assets under care, of which it managed
$27 billion for individuals, corporations and not-for-profit
organizations. Investor information and press releases can be
viewed at www.53.com. Fifth Third’s common stock is traded on the
NASDAQ® Global Select Market under the symbol “FITB.” Fifth Third
Bank was established in 1858. Member FDIC, Equal Housing Lender
About Early Warning
Early Warning is creating the future of payments by delivering
innovative payment and risk solutions to financial institutions
nationwide. For over 25 years, Early Warning has been a leader in
financial technology that protects and advances the financial
system. Learn more at earlywarning.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161024005828/en/
Fifth Third BankLaura Trujillo,
513-534-4361Laura.trujillo@53.com
Fifth Third Bancorp (NASDAQ:FITB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fifth Third Bancorp (NASDAQ:FITB)
Historical Stock Chart
From Apr 2023 to Apr 2024