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US banks trying new remittance system

Two US banks – PNC Financial Services Group and F.N.B. Corp – will use Zelle, a new person-to-person payments network operated by Early Warning Services. Using Zelle, customers of the banks will be able to send money from one bank account to another in minutes, using only an email address or mobile number of the recipient. It is expected that Zelle will become available in the mobile banking apps of more than 30 participating financial institutions. PNC said it will roll out Zelle in the coming weeks. According to an official of the bank, Zelle will be embedded directly into the bank’s mobile banking experience and that means no downloads and no hassle. Zelle will be easy to access and navigate with an intuitive and consistent user experience, and the ability to quickly move money is only a few taps away, he added. Payments can be sent using either a registered email address or mobile number so customers never have to give out their bank account information. F.N.B. said its customers will have access to Zelle via its online banking and its direct mobile banking app by early 2018.

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