The news: Zelle and Bank of America partnered to enable charitable disbursements through Zelle from Donor Advised Funds (DAFs), per a press release.

Donors affiliated with Bank of America’s Charitable Gift Fund access the disbursements first. Zelle anticipates spreading this feature to other financial institutions. 

Why this matters: Zelle is expanding its use cases beyond P2P. Its recent successful dive into SMB payments helped drive significant volume in combination with P2P—the payment network notched 20% volume growth YoY—the Early Warning Services-backed platform likely recognizes it can win more slices of payment volume in other untapped arenas. 

It benefits from being located within users’ banking apps and accounts, making it a great contender for sectors trying to modernize quickly: Previously, nonprofit awards tended to be paper-based with multi-week long settlement times.  

What’s next? While EWS has established Zelle as a power player for P2P (and more), its mobile wallet, Paze, hasn’t been as eagerly adopted. 

Consumers are wedded to their Apple and Google Wallets, with the digital wallets boasting 89.7 million and 54.7 million users this year, respectively, per our forecasts. To break in, Paze will need to get loyal Apple and Google wallet users to defect from their wallet of choice or capture new wallet users outright.

Implications for payment providers: Zelle owns a significant footprint in P2P, and is gaining traction in SMB-related payments.

If Zelle successfully makes the leap to B2B payments, it could bolster a new growth area for banks: By 2030, global financial transaction volume is set to hit $20.8 trillion, with B2B accounting for $13 trillion, per Deloitte. This spells trouble major players like Visa and Mastercard, who are betting on B2B to power their networks: 

• Commercial money movement revenues were up 20% for Visa, per Q1 2026 earnings.
• Commercial credit and debit volume represented 13% of Mastercard’s total GDV for 2025, per Q4 2025 earnings.

This content is part of EMARKETER’s subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports. Our Briefings prepare you to start your day informed, to provide critical insights in an important meeting, and to understand the context of what’s happening in your industry. Non-clients can click here to get a demo of our full platform and coverage.