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T-Mobile shutting down mobile payments service

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T-Mobile shutting down mobile payments service

T-Mobile USInc. is shuttering its Mobile Money service that it launched in January 2014,Re/code reported April 8.

The mobile payments service reportedly allowed customers touse a mobile app to pay bills and deposit checks. The U.S. carrier also offereda prepaid card that could be reloaded at a T-Mobile store or for a fee at otherretail outlets.

Customers will be able to load their cards until June 27 anduntil July 27 to draw down prepaid card balances, according to the report.