Zelle, one of the most popular digital payment services in the U.S., has shut down its stand-alone mobile app.
But the money transferring service isn’t gone for good.
In an announcement last year, the company said only 2% of transactions actually happen on their app. It’s more common for people to access the service through their bank’s website or app, instead.
The app, launched in 2017, was created in competition against other popular money-transferring apps such as Venmo, Cash App and Apple Pay. Now, over 2,000 banks and credit unions use the service.
The company stated that process will be unaffected. Transactions through Zelle will still be able to take place, as long as the user does it through their bank.
In their statement, the company said the small percentage of consumers who use the Zelle stand-alone app will need to re-enroll through their banking institution, if they utilize the service.
Those who strictly use Zelle through their financial institution will not be impacted by the change.
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