Equifax is one of the three major credit reporting agencies in the United States, alongside TransUnion and Experian.
As a credit reporting agency, Equifax gathers and maintains vast amounts of consumer credit information. This includes data on individuals' credit history, payment records, and other financial activities.
Equifax then compiles this information into credit reports, which are used by lenders, banks, and other financial institutions to assess creditworthiness and make informed decisions when granting loans or extending credit.
Zelle, on the other hand, is a person-to-person payment platform that enables users to send and receive money digitally.
It functions as a convenient alternative to traditional methods of transferring funds, such as writing checks or using cash.
Zelle allows users to link their bank accounts to the platform and seamlessly transfer funds to friends, family, or other contacts who also have Zelle accounts.
Equifax and Zelle are not compatible with each other.
Equifax, as a credit reporting agency, focuses on providing lenders with credit information and analysis.
Zelle, on the other hand, partners with various banks in the United States to enable person-to-person transfers.
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