SAN FRANCISCO—Digit, the developer of a popular automatic savings mobile app, said it is moving beyond its core business with a new feature enabling users to pay down credit card debt from their Digit account.
The new feature works by enabling users to create a "credit card debt" goal in their Digit settings and activate the Digit Pay service, Tech Crunch reported.
Digit automatically will begin to save money from a linked checking account—and use those funds to pay off credit cards. Credit card payments can even be prioritized through Digit's boost feature, Tech Crunch explained.
So far, the Digit app has been used to save roughly $1 billion for its customers according to chief executive officer Ethan Bloch. Bloch says that Digit has been focused on solving the biggest financial pain points for the most customers it can reach in the U.S.—Tech Crunch noted.