Zelle Shuts Down Standalone App, Focusing on Bank Integrations

Payment app Zelle announced it will shut down its standalone app on Tuesday. Despite over 150 million users, only 2% utilize the app for person-to-person payments. This led to the decision to discontinue the app; users will need to re-enroll through their bank or other financial institution. Launched in 2017, Zelle's bank integrations enable instant, fee-free transfers. In 2024, it processed $1 trillion in payments, surpassing all other payment apps. This success stems from its use in larger transactions like rent, contrasting with Venmo's focus on social payments.