U.S. Bank taps Canadian startup Vouchr on Zelle e-greeting card launch

Zelle, the bank-backed peer-to-peer (P2P) payments network, is going social through the introduction of e-greeting cards. The feature was launched by U.S. Bank this week, and promises to add a ceremonial touch to peer-to-peer transactions.

Why should we care?
The Zelle network, which is owned by Early Warning Services, has made considerable inroads since its launch in 2017, processing $84 billion in payments on 323 million transactions during the third quarter of 2020. Until recently, however, the Zelle P2P payment experience lacked the social element of its PayPal-owned rival Venmo, which is known for its characteristic emojis that sometimes amount to inside jokes between payment senders and receivers. This holiday season, however, Zelle promises to inject more of a ‘surprise and delight’ element to P2P payments with digital e-greeting cards that can be sent alongside the payments through a partnership with Canada-based payments startup Vouchr. The fintech, which also has relationships with the Royal Bank of Canada and Western Union, says it provides a SaaS platform that transforms sending digital P2P money into interactive and media-rich message experiences.