A few decades ago, electronic payment and money-sharing systems were unheard of. Then PayPal launched in the late ‘90s and changed everything. The grandfather of them all, PayPal revolutionized the way people could pay bills and send money to each other.
These days, payment apps are everywhere. From Venmo to Zelle to Google Pay, everyone seems to want to get in on the electronic payment game. There’s no need for people to carry cash anymore because it’s so easy to just whip out your phone and press a few buttons to send someone money.
If you’re interested in business banking, or maybe if you’re just curious, you may have wondered which banks the top money-sharing apps use to handle their finances. We’ve done all the research to bring you this information.
11 of the Most Popular Payment Apps and Their Banks
Zelle’s parent company, Early Warning Services, LLC, is co-owned by Bank of America, Capital One, JP Morgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo
Sutton Bank and Lincoln Savings Bank
Green Dot Bank