Alex, Zelle is a formation of banks to protect bank ownership of the customer. They can offer $0 fee xfer for P2P + P2B.
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Replying to @RAlexJimenez @JimMarous and
Alex, ahh. Got ya. $0 cost to all participants. Banks in Zelle see no deep costs to move funds. Thus they can loss leader it as a perk.
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Replying to @BrianRoemmele @JimMarous and
This isn't free for any banks. There's nothing banks do that is free to them. Banks aren't charging customers.
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Replying to @RAlexJimenez @JimMarous and
Alex, indeed. I agree. The fundamental here is that in the market they own the house advantage. It is "on us" Cash movement.
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Replying to @BrianRoemmele @JimMarous and
"On Us" isn't exactly equal across the industry.
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Replying to @RAlexJimenez @JimMarous and
Alex, indeed. This is the opportunity.
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Replying to @BrianRoemmele @JimMarous and
It's just another effort from the banks to make themselves into the utility that they wish not to become.
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Replying to @RAlexJimenez @JimMarous and
Alex, no doubt. This journey banks are on will lead them around and around to wind up to utility. But they can be more.
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Replying to @BrianRoemmele @JimMarous and
And this isn't going to help. It's just a nice UI in front of the ACH and sometimes the card networks.
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Alex, I agree as a stand alone service. As an API service it can be of high utility. As a serve to load and unload Apple Pay Cash & more.
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Replying to @BrianRoemmele @JimMarous and
Why should banks make it easier for Apple?
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Replying to @RAlexJimenez @JimMarous and
Alex, indeed, the question can also be stated why should Apple make it easy on Banks. This has been the Apple Pay story since the start.
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