news.cuna.org/articles/SHAZAM_upgrades_mobile_app

SHAZAM upgrades mobile app

February 5, 2015

DES MOINES, Iowa (2/6/15)--The SHAZAM Network has updated its mobile app, SHAZAM BOLT$, to include a person-to-person (P2P) money transfer service and an interactive ATM locator.

The P2P money transfer feature allows SHAZAM BOLT$ cardholders to send money to other enrolled cardholders instantaneously. "While other P2P solutions use ACH to support their transactions, we're using our SHAZAM debit rails, resulting in a much faster transaction," said Terry Dooley, SHAZAM executive vice president/chief information officer. "A user can easily determine whether an intended recipient is enrolled simply by entering the recipient's email address into the app."

SHAZAM also integrated GPS technology into the mobile app to help cardholders in the United States locate nearby ATMs. Users can confirm if the ATMs are surcharge-free Privileged Status terminals and get directions.

SHAZAM BOLT$ users also can check balances and set parameters for email alerts.

SHAZAM BOLT$, originally launched in 2013 as an extension of SHAZAM's fraud-prevention services, alerts debit cardholders about potentially fraudulent activity on their accounts. The alerts can be generated anytime a suspicious purchase is detected, based on:

  • Purchases above amounts specified by the cardholder;
  • Card-not-present transactions; and
  • uspicious or high-risk transactions.

SHAZAM BOLT$ can be configured to match a financial institution's branding, including its name and logo. A Web version is also available.