Building Trust in Your Institution and Debit Card

Trust equals loyalty and use. According to a recent survey, 83% of consumers stated trust drives their loyalty to a business.1 Show your cardholders that they can trust their money is safe with your debit card and you'll earn their loyalty. And they'll feel confident about using their card more often and in more places.

In 2014, nearly 20 percent of all debit cardholders had been victims of fraud during the previous five years.

One of the biggest challenges to card use is security and for good reason. In 2014, nearly 20 percent of all debit cardholders had been victims of fraud during the previous five years.2 With all the cyber attacks in the news, cardholders continue to worry about fraud today.

EMV cards were designed to help curb card-present fraud. Yet, many merchants and ATM owners have yet to upgrade their payment systems to accept chip cards. In addition, while debit cards do offer protections against fraud, cardholders are painfully aware they’re losing their own money with a fraudulent transaction and they have fight to get it back.

Image of debit card holder at ATM

Ondot offers a solution

Our mobile card services can help your cardholders feel more confident about using their card wherever they shop–even at the places where they haven't swiped or given their card number before. The services are available through an application that you can easily push to your cardholders. One swipe on their phone and cardholders can access those services.

When they do, they’ll have instant control, allowing them to switch their debit card on and off and designate when, where and how it can be used for increased security–all from their smart phone, 24 hours a day, seven days a week. And with your help, they'll also have instant visibility into their accounts.

Alerts and notifications

With our push technology, you can send real-time transaction alerts to help your cardholders keep track of their spending and know instantly if their card has been compromised. They can flag a false transaction and initiate a dispute from their phone, anytime, anywhere.

Enable or disable–they decide

They can choose to have their card always on for certain types of transactions at trusted stores such as shopping at the local market or filling up their gas tank at a neighborhood station. They can also choose selective use for other types of transactions. For example, they can switch on online activity for a purchase and then switch off the activity following the purchase until they decide to make another online purchase.

Location as a second level of authorization

Your cardholders can set their debit card to work in their current location, with narrow- or wide-area coverage. For maximum convenience, the card can be linked to the GPS feature in cardholders’ phone so that access follows them wherever they go.

For travel, the card can be set in advance from their phone to be accessible on the road, across the country or the world—no need to visit one of your branches or contact your call center.

Self service

Ondot mobile card services make it easier and faster to handle other tasks as well. For example, cardholders won't have visit a branch or navigate a call tree only to be placed on hold to resolve issues. If a card is misplaced, they can simply switch off the card from their phone. If it's found, they can switch it back on.

In fact, Ondot mobile card services give your cardholders the power to conduct almost every type of banking remotely. With their phone, they can check their available account balances, spend limits, and current status of accounts and cards. They can transfer funds, search for nearby ATMs and even email your institution from the application. They can share their card with dependents and monitor dependent spending through their phone.

Transactions and much more

The Ondot mobile card services application gives your cardholders the control to feel secure about using their debit card. And it helps extend the card's use beyond just transactions to become an essential banking tool for everyday use.

Your cardholders can trust your institution to help make their lives safer and easier, which can influence preference for your institution and card. We've helped institutions like yours increase their card's use by an average of 23%.

To learn more about mobile card services, contact your Ondot representative.

1. https://rare.consulting/rare-research/loyalty
2. http://www.creditcards.com/credit-card-news/payment-method-statistics-1276.php