Banks now have their own version of Venmo that will send money instantly

Just as Apple launched its own attack on Venmo with iMessage payments, so did the banks. 

The bank-approved peer-to-peer payment tool Zelle went live Monday morning in most mobile banking apps. 

Zelle is basically Venmo, only directly within your Bank of America/Chase/CitiBank app. 

SEE ALSO: Hey Venmo, Apple is coming for the person-to-person payments market

Zelle's big advantage against Venmo, PayPal, and even Apple is that it's approved by the banks where users already keep their money. Zelle doesn't have its own app yet and for now is just a tool to send money within the mobile banking app you already have.  Read more...

More about Paypal, Venmo, Banking, Fintech, and Mobile Banking

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