Zelle, a widely-used peer-to-peer payment platform, is facing an outage that has affected users at several financial institutions, leading to challenges in processing payments. The issue, linked to the payment services provider Fiserv, has caused users to see transactions marked as 'payment pending.' The peak of the outage reports was observed on Friday morning, with users from banks like Truist and Navy Federal Credit Union experiencing issues. Bank of America confirmed that the problem is vendor-related and is impacting multiple banks across the nation. Efforts are underway with the vendor to restore normal service promptly, as the platform is crucial for handling billions of dollars in transactions daily.

Zelle is experiencing a significant outage affecting a number of its users across various banks, resulting in payment disruptions and transactions being marked as 'payment pending.'

DownDetector, a service that tracks outages, noted a surge in reports beginning on Friday morning, illustrating the widespread nature of the issue.

The outage has been linked to Fiserv, a major payment services provider for some financial institutions, although Fiserv has not yet responded to inquiries about the situation.

Reports indicate that users from banks such as Truist and Navy Federal Credit Union are among those affected, with some customers expressing frustration over delays in critical payments like rent.

Bank of America has acknowledged the problem, identifying it as a vendor-related issue and is collaborating with the vendor to resolve the disruption as quickly as possible.

Zelle is an essential part of the financial ecosystem, owned by Early Warning Services and co-owned by major banks like JPMorgan Chase, Bank of America, and Wells Fargo, facilitating the rapid transfer of billions of dollars daily.

The situation emphasizes the dependency on technology and vendors in the financial services industry, highlighting the potential widespread impact of system outages.