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First Internet Bank offers contactless debit card | Business News | Lafayette Online
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News | Business News

First Internet Bank offers contactless debit card

INDIANAPOLIS, Ind. — Indiana-based First Internet Bank (First IB — NASDAQ-OTCBB:FIBP) announced today it has begun issuing debit cards that include the Visa payWave (contactless) feature. These contactless debit cards promise First IB cardholders a faster and easier check-out, with the same security protection given to traditional magnetic stripe cards.

By holding the debit card close to a contactless card reader, customers can complete a purchase transaction in seconds. The cardholder remains in possession of his or her card at all times and, for most purchases under $25, will not be required to sign.  When the merchant does not accept contactless transactions, cardholders can still swipe the card.

By holding the debit card close to a contactless card reader, customers can complete a purchase transaction in seconds. The cardholder remains in possession of his or her card at all times and, for most purchases under $25, will not be required to sign. When the merchant does not accept contactless transactions, cardholders can still swipe the card.

Each First IB debit card enabled with Visa payWave is embedded with an advanced computer chip that uses radio frequency to perform the transaction. By simply holding the First IB debit card with Visa payWave close to a contactless card reader, customers can complete a purchase transaction in seconds. The cardholder remains in possession of his or her card at all times and, for most purchases under $25, will not be required to sign. In cases where the merchant does not accept contactless transactions, cardholders can still swipe the card, just as they always have.

Since its launch ten years ago, First IB has offered customers a lineup of convenient account access services – including a robust website with self-service features for anytime account access, and traditional magnetic stripe Visa debit cards as a secure alternative to carrying cash. The contactless debit card offering is the most recent enhancement to the Bank’s lineup of added value services. First IB has also introduced mobile banking as well as personal budgeting and account aggregation services in the past twelve months.

“First Internet Bank strives to be a leader in innovation, and the adoption of this card keeps First IB at the forefront of banking technology,” said Mr. David B. Becker, President and CEO. “Studies have shown, and our employee pilot program confirms, that cardholders find contactless payments to be fast and easy. We are pleased to offer our customers this new feature for everyday purchases. It’s just another way we work to make banking easier for our customers.”

For more information on the First IB debit card with Visa payWave, customers are encouraged to visit http://www.firstib.com/personalaccts/debit.html. More information is also available from Visa, including a link to locate a nearby merchant that accepts payWave cards, at http://www.visa.com/visapaywave.

About First IB

With over $540 million in assets, First Internet Bank of Indiana (First IB, www.firstib.com) is the first state-chartered, FDIC-insured institution to operate solely via the Internet and has customers in all 50 states. Deposit services include checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs, and IRAs. First IB also offers consumer loans, conforming mortgages, jumbo mortgages, and home equity loans and lines of credit. First IB is a wholly owned subsidiary of First Internet Bancorp (OTC Bulletin Board: FIBP).

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