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The SHAZAM Network and Visa Reach EMV Agreement to Enable Choice at ATM & POS

Leading PIN Debit Networks Form New Company

SHAZAM BOLT$ Mobile App Now Available for both Android and iPhone devices

SHAZAM BOLT$ Mobile App Hits Stride, Goes Live at 200+ Financial Institutions

The SHAZAM Network Publishes EMV Specifications, Supports Common AID

SHAZAM Network Launches SHAZAM BOLT$ Mobile App for Debit Cardholders

 

The SHAZAM Network and Visa Reach EMV Agreement to Enable Choice at ATM & POS

Wednesday, April 16, 2014

DES MOINES, IA — The SHAZAM Network and Visa Inc. today announced an agreement to enable issuers to use Visa’s common debit application identifier (AID) for Visa- and SHAZAM-branded cards and transactions.

Visa offered the use of its common domestic AID and Visa Smart Debit Credit (VSDC) EMV chip application, which support U.S. debit regulations requiring the ability to route debit transactions over multiple, unaffiliated networks. By sharing this AID among all U.S. debit network participants, EMV chip adoption will meet the requirements of issuers, merchants, networks and U.S. regulation while maintaining global international acceptance.

“This agreement reflects nearly two years of industry engagement,” said SHAZAM CIO Terry Dooley. “SHAZAM is proud to have acted as a driving voice in the original SRPc chip-and-PIN working group and the Debit Network Alliance. The network has been active in the EMV Migration Forum, ATMIA, NAC and other industry forums. A collaboration that allowed for merchant and issuer routing choice for contact and contactless payments supporting PIN, no CVM, and signature was our goal, and we believe this agreement provides the terms to accomplish that goal.”

Visa’s common AID will enable point-of-sale debit transactions and domestic ATM transactions on Visa and SHAZAM-branded debit cards.

“It remains important for all U.S. debit card issuers to evaluate the business case and the industry as they begin to consider a migration to EMV,” said Dooley. “Particularly for smaller issuers, including community banks and credit unions, a cost-benefit analysis that takes into account the institution’s current and predicted fraud risk, as well as the potential return on an EMV investment, is a critical first step.”

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Leading PIN Debit Networks Form New Company
Debit Network Alliance to Provide Governance Structure for Debit EMV Deployment in U.S.

Wednesday, December 11, 2013

MONTVALE, NJ — Ten leading PIN debit networks in the United States have formed a new company, Debit Network Alliance, to provide a structure for the governance, deployment and implementation of the EMV debit standard. The goal of this collaborative effort is to help facilitate the adoption of an interoperable EMV standard for debit payments in the U.S. through a common governance structure that fosters regulatory compliance, equal access and ability to innovate for all debit networks, routing choice for merchants, and portability for issuers.

The debit networks have a long history of collaboratively working together — especially with regard to improving security — to define standards that maintain the integrity and quality of the U.S. payment industry. In particular, the networks have been working together on chip standards under the support of the Secure Remote Payment Council’s Chip and PIN Work Group since April 2012.

The founding networks of Debit Network Alliance include AFFN®, ATH®, CO-OP Financial Services®, NETS®, NYCE®, Presto!®, PULSE®, SHAZAM®, and STAR®.

“The formation of the Debit Network Alliance is a continuation of the great cooperation that the founding networks have had since coming together in April 2012. We believe that debit chip solutions in the U.S. must be governed by all U.S. debit networks, in a manner that benefits industry stakeholders and supports the levels of flexibility and innovation necessary to maintain a healthy and robust U.S. payment system,” said Paul Tomasofsky, Executive Director of Debit Network Alliance. “The Debit Network Alliance is ready to work with all payment networks to define business terms, technical requirements and legal agreements required for industry stakeholders to realize the benefits of a single, common standard. Once these are in place, the industry can truly move forward with EMV in the U.S.”

For additional information, visit www.DebitNetworkAlliance.com.

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SHAZAM BOLT$ Mobile App Now Available for both Android and iPhone devices

Tuesday, September 3, 2013

DES MOINES, IA — The SHAZAM network today announced Android smartphone and tablet users can access the SHAZAM BOLT$ mobile app through Google Play. Currently offered by more than 300 of SHAZAM’s participant financial institutions, the app alerts debit cardholders to potential fraud and allows them to check balances. Apple mobile device users can also access SHAZAM BOLT$ from iTunes.

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

Terry Dooley, senior vice president and chief information officer for SHAZAM, says the goal is to empower customers in helping financial institutions protect their accounts.

"Along with dedicated and expert fraud analysis, customer-facing technology is extremely important,” Dooley said. “It can help improve the consumer’s experience and increase a financial institution’s ability to prevent fraudulent transactions. SHAZAM BOLT$ puts customers in the driver’s seat."

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.

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SHAZAM BOLT$ Mobile App Hits Stride, Goes Live at 200+ Financial Institutions

Monday, March 11, 2013

DES MOINES, IA — 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.

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The SHAZAM Network Publishes EMV Specifications, Supports Common AID

Tuesday, February 5, 2013

DES MOINES, IA — In preparation for the U.S. migration to EMV®, the SHAZAM network has released its chip-and-PIN or EMV network specifications to all of its industry partners.

"By publishing our network's required changes early, SHAZAM's goal is to ease the development efforts of issuers, acquirers and merchants in the industry," said SHAZAM Senior Vice President Dan Kramer. "As the U.S. moves toward EMV implementation, SHAZAM certification requirements will be very straightforward and closely aligned with existing certification requirements."

As well, SHAZAM is helping lead the development of a common U.S. application identifier (AID). "We are fully committed to a common solution," said Terry Dooley, SHAZAM senior vice president and CIO. "A priority for us is working with all industry stakeholders on the enhancement of the terminal selection process to provide network choice at the time of the transaction."

SHAZAM will soon publish an EMVCo-certified CCD-compliant application, as well as EMV card profile specifications.

According to Kramer, SHAZAM is actively participating in a number of industry groups, leading discussions on how best to implement this new payment technology. These groups include the Secure Remote Payments Council, SmartCard Alliance, EMV Migration Forum, Merchant Advisory Group and EMVCo.

"It's essential for the U.S. payments system to maintain the flexibility and interoperability enjoyed today by our country's issuers, processors, networks and merchants," said Kramer.

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SHAZAM Network Launches SHAZAM BOLT$ Mobile App for Debit Cardholders

Monday, January 14, 2013

DES MOINES, IA — 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.

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