News

Co-op to introduce controls-and-alerts mobile app for CU member bankcards

The app gives users full control of their credit and debit cards, with options that include on-off, location, spending limits, and transaction and merchant types.

September 19, 2014

Co-op Financial Services, a credit union service organization, has announced that it will introduce a new mobile application for bankcard controls and alerts on Oct. 22.

“CardNav by Co-op empowers credit union members to decide when, where and how their mobile credit and debit cards are used in advance and in real time,” said Stan Hollen, Co-op president and CEO. “This application for smartphones and tablets simultaneously addresses two key demands of today’s member: greater functionality in mobile payments; and greater personalized control and security."

CardNav gives members of participating CUs full control of their credit and debit cards. User-specified options include on-off, location, spending limits, and transaction and merchant types. The same parameters also governs real-time alerts.

According to a news release, CardNav helps credit unions in a number of ways:

• protects members and the the CU's bottom line by reducing opportunities for fraudulent transactions;
• differentiates the CU from big banks and other FIs;
• meets member demands for greater mobile control over their financial lives; and
• streamlines operations with a solution that extends do-it-yourself banking.

The card will be officially introduced on Oct. 22 via webinar. Additional information is available at the Co-op website.