Zelle is a United States-based digital payments network owned by Early Warning Services, a private financial services company owned by the banks Bank of America, BB&T, Capital One, JPMorgan Chase, PNC Bank, US Bank, Citibank and Wells Fargo. The Zelle service enables individuals to electronically transfer money from their bank account to another registered user’s bank account (within the United States) using a mobile device or the website of a participating banking institution. The Zelle instant payment service was launched in 2017.
Early Warning Services has also operated a somewhat similar service called clearXchange that offered payment services through member financial institutions and a website. Launched in April 2011, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo, and after Capital One and US Bank joined as additional partners, was sold to Early Warning Services in January 2016. In December 2017, all clearXchange accounts for person-to-person payment services were deactivated and the web interface was discontinued. However, clearXchange continues to operate as a payment service for companies and government entities.