Members of Educators Credit Union (www.ecu.com) can now download an app to turn their credit and debit cards on and off, setting controls for purchases by transaction and merchant type or location. The $1.4 billion Racine, Wis., CU rolled out the app, called CTRL and developed by Ondot Systems (www.ondotsystems.com), in August. "It puts complete control of their cards into members' hands," says Katherine McCabe, AVP/e-strategy.
Members can restrict their cards from use for online purchases, for example, or to allow purchases only in the Racine and Kenosha areas, McCabe notes. They could set dollar limits or turn their debit cards off for gas purchases at the pump to avoid preauthorization holds. The app permits members to enable push notifications to get alerts of attempted card transactions thwarted by the controls they set.
"This all happens in real time, so members can change the controls at point of purchase," she adds.
Initially, CTRL was issued as a stand-alone app, but Educators CU is working to incorporate its features into its mobile access system so members only need to download one app in the future.
The CU has begun issuing EMV credit cards and expects to offer debit cards with electronic chips by early 2016. "Our traveling members are very excited that we have an EMV option for them while they travel outside the United States," says Card Services Manager Jodi Darga.
Educators CU has issued more than 135,000 credit and debit cards combined.
Members of Educators Credit Union can now download an app to turn their credit and debit cards on and off, setting controls for purchases by transaction and merchant type or location.
The $1.4 billion Racine, Wis., CU rolled out the app, called CTRL and developed by Ondot Systems, in August. "It puts complete control of their cards into members' hands," says Katherine McCabe, AVP/e-strategy.
Members can restrict their cards from use for online purchases, for example, or to allow purchases only in the Racine and Kenosha areas, McCabe notes. They could set dollar limits or turn their debit cards off for gas purchases at the pump to avoid preauthorization holds.
The app permits members to enable push notifications to get alerts of attempted card transactions thwarted by the controls they set.
"This all happens in real time, so members can change the controls at point of purchase," she adds.
Initially, CTRL was issued as a stand-alone app, but Educators CU is working to incorporate its features into its mobile access system so members only need to download one app in the future.
The CU has begun issuing EMV credit cards and expects to offer debit cards with electronic chips by early 2016.
"Our traveling members are very excited that we have an EMV option for them while they travel outside the United States," says Card Services Manager Jodi Darga.
Educators CU has issued more than 135,000 credit and debit cards combined.
