> I think what we have isn't a free market but a duopoly of mastercard/visa each with control over their respective domain. You can't upgrade the security, privacy, or efficiency of the network because the big players benefit from the insecurity, surveilance, and inefficiency.

What does that have to do with the article? Neither MasterCard nor Visa is involved with Zelle, are they? The article says it's controlled by a group of banks. Presumably they've set up a new system, so they could make it as secure as they'd like.