One of the most popular payment platforms is shutting down services on its app.
Individuals are now unable to send and receive money through the Zelle app.
In 2024, the electronic transaction platform announced plans to shut down its app services. Last week, Zelle pulled its transaction features from its app.
Zelle’s electronic money transfer system is now exclusive to banks and credit unions under its network. The company stated that over 2,200 financial institutions are part of the Zelle network.
People who use Zelle within their bank or credit union will be unaffected by the change.
According to a company press release, prior to the removal of the Zelle app’s transactional features, less than 2% of Zelle transactions took place in the application.
The Zelle application will now consist of information about scams and fraud, as well as provide a list of the over 2,200 banks and credit unions that offer Zelle.
“The vision for Zelle has always been a solution that allows people to send and receive money to and from those they know and trust directly between bank accounts,” the company said in a press release. “Today, the vast majority of people using Zelle to send money use it through their financial institution’s mobile app or online banking experience, and we believe this is the best place for Zelle transactions to occur.”