> Currently, there's insufficient feature differentiation from Venmo to warrant migration.

Well, it doesn't require a venmo account and doesn't require three days of waiting. Right there removes any reason for me to use venmo ever again.

I just used it this week to help a friend with rent! Just signed into my bank, punched in his phone number, and sent the money. Couldn't be happier, which is huge considering I normally hate my banking software.

Alternatively, I never started using Venmo because I never trusted a third party to have my banking data. Now I use Zelle because it's backed by my bank, and since basically everyone I know now has it by default from their bank, I have seen pretty high adoption rates with my friends.

Zelle’s user base can be every customer of every bank that supports it. Far larger than Venmo can ever be. And it’s slowly being embedded in each partner bank’s app.

http://www.tearsheet.co/payments/zelle-is-winning-the-peer-t...

I never installed Venmo. Someone sent me money via Zelle, and I had a couple clicks on my bank's website to accept it. Already a convert.

In this case, it was family, mind you. Which is a good thing, because up until reading this, I'd have assumed Zelle had fraud protection.

With Venmo do you still have to wait a few days while it transfers to your actual bank account? That's a big enough reason for me to always use Zelle or physical cash. With Zelle it's literally seconds until I can see the funds.