DES MOINES, Iowa (1/15/13)--The SHAZAM ATM network has launched a mobile application that provides debit cardholders with free access to their checking accounts.
SHAZAM BOLT$, available to smartphone and tablet users, allows debit cardholders to check balances and set parameters for e-mail alerts. Eventually, users will be able to make person-to-person transfers, the company said.
The application also alerts cardholders to potentially fraudulent activity on their accounts. The alerts are generated when a suspicious purchase is detected, based on:
- Purchases above amounts specified by the cardholder;
- Card-not-present transactions; and
- Suspicious or high-risk transactions.
E-mail alerts will help halt fraud attempts more quickly, said Dan Kramer, SHAZAM senior vice president of marketing and merchant services. "By providing nearly real-time transaction alerts via email--a communication vehicle cardholders are using for everyday interaction--credit unions and community banks will have a more direct line to cardholders, not only limiting fraud losses but potentially improving customer service."
The application can be configured to match a financial institution's branding, including name and logo. A Web version also is available for cardholders who prefer to access the tool from a desktop computer or mobile browser.
SHAZAM is offering the mobile app free to its network participating financial institutions.