Millions of people use the peer-to-peer payment app Zelle, but soon some will be using it in a different way.
In a blog post, the company announced it is phasing out its standalone app, which is used by only 2% of Zelle users. The rest use the service through a financial institution.
“Over the next few months, we will be phasing out the ability to enroll and transact within the standalone app,” the company said.
“As we do that, we are encouraging those who use the standalone app to instead start using Zelle through a participating bank or credit union. Users of the app will continue to be able to access it, but the app will be dedicated to consumer education about scams and fraud and provide a list of the more than 2,200 banks and credit unions that offer Zelle.”
In fact, most Zelle users already access it through their bank. They can send money to people who are in their phone contacts. Consumers who are using the standalone app must re enroll through their bank or credit union.
If you have sent money to or received money from someone who uses the standalone app, you will also no longer be able to do so.
“We are working diligently to onboard financial institutions that want to join the Zelle network, so that their customers and members can access Zelle through their mobile banking apps,” the company added.
Zelle launched in 2017 as a digital payments network, backed by several major national banks.
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