The SHAZAM Network Launches SHAZAM BOLT$ Mobile App for Debit Cardholders
DES MOINES, Iowa (January 14, 2013) — With today’s launch of mobile app SHAZAM BOLT$, financial institutions now can provide SHAZAM debit cardholders with free, on-the-go access to their debit card accounts. The app, available to smartphone and tablet users, allows debit cardholders to check balances, set parameters for email alerts, and eventually, initiate person-to-person (P2P) transfers.
“Community banks and credit unions are searching for mobile solutions to help them compete in the growing financial services marketplace,” said Dan Kramer, SVP of Marketing and Merchant Services at SHAZAM. “It’s no longer only the megabank strategies our network participants are competing with; it’s also those from the Apples, the Googles and the Verizons of the world. SHAZAM is working hard to help our network participants remain the best choices for the cardholders in their communities, and SHAZAM BOLT$ is evidence of that hard work.”
SHAZAM BOLT$ is an extension of SHAZAM’s fraud-prevention services, alerting cardholders directly to potentially fraudulent activity on their accounts. The alerts are generated any time a suspicious purchase is detected, based on:
- Purchases above amounts specified by the cardholder
- Card-not-present transactions
- Suspicious or high-risk transactions
According to Kramer, email alerts will help halt fraud attempts more quickly. “By providing nearly real-time transaction alerts via email – a communication vehicle cardholders are using for everyday interaction – community banks and credit unions will have a more direct line to cardholders, not only limiting fraud losses but potentially improving customer service.”
SHAZAM BOLT$ can be configured to match a financial institution’s branding, including their name and logo. A web version is also available for cardholders who prefer to access the tool from a desktop computer or mobile browser.
The mobile app is being offered to all SHAZAM network participating financial institutions at no cost.
The SHAZAM network was founded in 1976 and is one of the last remaining member-owned and -controlled EFT networks and processors in the industry. SHAZAM provides innovative and state-of-the-art EFT services to community financial institutions in 33 states. SHAZAM is a single source provider for ATM processing, debit and ATM card processing, card authorization services, merchant processing, Automated Clearing House (ACH) services, and information security solutions.