Zelle is preparing to finish transactions on the mobile phone application, and pay exclusively the common service to the main American banks and institutions
Zelle’s popular payment platform is preparing to make a significant change in mobile phone applications services.
Platform He says It is preparing to end all the possibilities of transactions for companies and consumers on the independent mobile phone application of the company, which officially ends all services after March 31.
The application, which was processed about $ 20 billion in transactions in 2024, will remain available for download – but will only provide educational details about fraud and fraud and provide a list of more than 2,200 banks and credit federations that use Zelle.
Customer transactions records will be removed from the application.
Change will particularly affect customers in financial companies such as FIDELITY, which does not provide Zelle to people with cash management accounts.
Olive He says The change is caused by the popularity of Zel within American banks and financial institutions.
“When Zelle was first launched, we also created an independent application bearing the Zelle brand for consumers whose banks or credit federations have not yet joined the network yet. With the strong growth of adoption by banks and credit federations, we now see about 2 % of transactions on the independent application.
As a result of Numona, and because most people are now using Zelle in the application or website of their financial institution, we are making a change on the Zelle Standalone application. “
Early warning services (EWS), owned by seven major American banks including JPMorgan Chase, Bank of America and Wells Fargo, says it reaches “directly and repeated” for users of the independent application to ensure that they are aware of the outstanding changes.
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