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The online service is built into banks and credit unions, resulting in the company shutting down their standalone app since so few people were using it.
SAN FRANCISCO — Zelle, an online money transferring system, shut down payment functions in its app Tuesday. Don’t worry though, you’re still able to use Zelle in other ways.
The online service is built into banks and credit unions, resulting in the company shutting down their standalone app — which launched in 2017 — since so few people use it.
“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,” said the company in an October press release.
They said fewer than 2% of Zelle transactions take place on their own app and the rest comes from the 2,200 banks and credit unions that offer Zelle within their own apps.
Users of the app will still have access, as it’s still on the Apple App Store, but it’s now dedicated to consumer education about scams and fraud instead of allowing transactions.
Zelle announced in February that they had hit 151 million enrolled users and over $1 trillion was sent through their company in 2024.
In a now dismissed 2024 federal lawsuit, the Consumer Financial Protection Bureau sued the company that runs the Zelle, and three U.S. banks as federal agencies, alleging they rushed to get the peer-to-peer payment platform on the market without effective safeguards against fraud and “did not take meaningful action to address these clear defects for years.”
The suit was dropped shortly after Donald Trump took office.
English (US) ·