DES MOINES, Iowa SHAZAM card network introduced a system this morning that will 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 transfers.
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.
“Community banks and credit unions are searching for mobile solutions to help them compete in the growing financial services marketplace,” said Dan Kramer, senior vice president 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 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.
SHAZAM provides ATM POS and card for more than 1,500 financial institutions, including more than 500 credit unions.
