The SHAZAM ATM and card processing network has launched an appfor debit card holders to access their accounts on smartphones andtablets.
|The BOLT$ apps include balances and alerts capabilities and willeventually be able to initiate person-to-person transfers, the Des Moines, Iowa-based network said.
|“Community banks and credit unions are searching for mobilesolutions to help them compete in the growing financial servicesmarketplace,” said Dan Kramer, the company's senior vice presidentof marketing and merchant services.
|He said SHAZAM BOLT$ is an extension of SHAZAM'sfraud-prevention services, alerting cardholders directly topotentially fraudulent activity on their accounts. The alerts aregenerated any time a suspicious purchase is detected, based onpurchases above amounts specified by the cardholder,card-not-present and other suspicious or high-risk transaction.
|“By providing nearly real-time transaction alerts via email – acommunication vehicle cardholders are using for everydayinteraction – community banks and credit unions will have a moredirect line to cardholders, not only limiting fraud losses butpotentially improving customer service,” Kramer said.
|The new app can be branded and also is available in a Webbrowser version, the companysaid, adding the service is free to its network financialinstitutions, which operate about 4,600 ATMs in 33 states.
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