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Popmoney vs. Zelle

June 15, 2021

Popmoney vs. Zelle: A Battle of Payment Processing Titans

Let's face it, money makes the world go round. And with the rise of digital payments, sending and receiving money has become a whole lot easier. But with so many payment processing options out there, it can be challenging to decide which one is right for you. In this blog post, we're going to compare two popular payment apps: Popmoney and Zelle. So, put on your armor, sharpen your weapons, and get ready for battle!

Popmoney

Popmoney is a peer-to-peer payment platform that allows users to send money to anyone with an email address or phone number. Created by Fiserv, a global leader in financial services technology, Popmoney allows users to send money from their bank account to another person's bank account instantly.

Features

  • Free to use for both senders and recipients (although some banks may charge a small fee).
  • Transactions can be initiated either through the Popmoney website or through a participating bank's website or mobile app.
  • Users can send and receive money without having to share their bank account information.
  • Popmoney allows for sending money in various currencies.

Drawbacks

  • Not all banks support Popmoney. Users should check with their bank to see if it is available.
  • The daily limit for sending money is $2,000, and the monthly limit is $4,000.
  • Popmoney may take up to 3 business days to transfer funds to your bank account.

Zelle

Zelle is a digital payment platform that offers quick and easy money transfers between bank accounts. It was created by a consortium of major American banks, including Bank of America, Wells Fargo, and JPMorgan Chase, to simplify peer-to-peer payments.

Features

  • Free to use for both senders and recipients (although some banks may charge a small fee).
  • Transactions can be initiated through the Zelle app or a participating bank's website or mobile app.
  • Users can send and receive money without having to share their bank account information.
  • Zelle allows for sending money in various currencies.

Drawbacks

  • Not all banks support Zelle. Users should check with their bank to see if it is available.
  • The daily and monthly limits for sending money vary by bank.
  • Zelle may take up to 3 business days to transfer funds to your bank account.

Popmoney vs. Zelle: Which One is Best for You?

When it comes to sending money, both Popmoney and Zelle are great options. They are both free to use and offer quick and easy transactions. However, the main difference between the two is the daily and monthly limits for sending money. Popmoney has a fixed daily and monthly limit of $2,000 and $4,000, respectively, while Zelle's limits vary by bank. So, if you need to send a large sum of money, Zelle may be the better option.

Conclusion

There you have it, folks. A side-by-side comparison of Popmoney and Zelle. Both are excellent payment processing technologies that make sending and receiving money a breeze. The key difference is the sending limits, so you should choose the platform that works best for your situation. But at the end of the day, it's a personal preference, and you can't go wrong with either option.

References

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