Fintech One-On-One · Oct 15, 2026 · 33m · 25m saved
With Wade Arnold, CEO and Co-Founder of Moov
Photo via eventible.com
About 2,000 financial institutions offer Zelle. Wade Arnold, CEO and co-founder of Moov, told Peter Renton on Fintech One-On-One that roughly 6,000 more don't, and that neobanks, brokerages and prepaid card programs aren't allowed to buy it at all.
Most new payment apps try to win users one at a time. Wade's bet with Moov Money, launched last month with Visa and Mastercard, is to skip that step and send money to the debit card people already carry.
"You have almost instant ubiquity. You know, nine out of ten Americans have one of those credentials in their wallet already... All you have to do is have that debit card."
Wade founded Banno, the digital banking platform Jack Henry acquired in 2014, before building Moov out of the open-source payments code he kept rewriting.
The full interview is covered here so you can skip it. 33 minutes of audio, 8 minutes of reading.
Here are the 7 arguments that matter.
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Key Takeaways
Roughly 6,000 US institutions are outside Zelle, and neobanks and brokerages cannot buy it
Moov Money targets them rather than trying to unseat Zelle or Venmo
Debit cards solve the two-sided problem that has kept US P2P inside closed apps
Moov polices scams across the whole network, not bank by bank
Scam money from many banks tends to land in one account, which the network can see and stop
Debit transfers settle only when the day closes, which leaves time to catch a scam before money leaves
Moov Money starts at $500 a month plus 75 cents a payment, with fraud coverage included
Wade still has to prove fraud losses match Zelle's before Zelle banks will switch
Stablecoin settlement could replace a credit line for a restaurant that has to pay suppliers on a Sunday
1. Built From Open-Source Code
Moov started as a side effect. Wade had written the same piece of payments software, a library for the ACH bank-transfer system, several times over his career and never finished one, so he released the pieces as open source for other developers.
Moov grew out of Wade's unfinished ACH libraries and now runs 72 open-source projects
"It started because I had written probably four or five ACH libraries in my career. And each one of them was a half complete version of that product." — Wade Arnold
That code base became a commercial processor. Push-to-card payments, ACH, card issuing and merchant acquiring are normally bought from separate vendors, each with its own contract, identity checks and sponsor bank. Moov sells all of them through one contract.
"Moov is a network of networks payment processor... we've consolidated all US money movement, or US fiat payment rails, under a single contract, single API, single wallet." — Wade Arnold
