DES MOINES, IA (March 11, 2013) — After less than 60 days on the market, SHAZAM BOLT$, the mobile app offered by the SHAZAM network, is live at more than 200 of the network’s participating financial institutions. The app, available to smartphone and tablet users, allows debit cardholders to check balances, set parameters for email alerts, and eventually, initiate person-to-person (P2P) transfers.
“Mobile strategies are critical to providing the value financial institution customers demand,” said Dan Kramer, SVP of Marketing and Merchant Services for SHAZAM. “Yet mobile products often take many months to become fully integrated and ready for consumer rollout. Our community banks and credit unions are eager to get mobile apps into the hands of their customers as quickly as possible, and that’s exactly what we have been able to offer with SHAZAM BOLT$. It’s a turn-key, affordable mobile offering that can be up and running very quickly."
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 help halt fraud attempts more quickly and greatly improve the customer service component critical to minimizing fraud losses.
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.
About SHAZAM
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.