Bank of New Hampshire is on the Leading Edge of Mobile Wallets
New Hampshire – September 19, 2016 – Bank of New Hampshire is committed to offering the latest technology to its customers all while making banking safer and more convenient. In 2010, Bank of New Hampshire was one of the first banks in the state to begin offering contactless debit cards. Significantly safer than a standard debit card, these cards have an embedded NFC (near field communication) chip eliminating the need to swipe the card at participating merchants. Transactions are processed securely with just a “tap.”
Just over 10 months ago, the bank deployed support for Apple Pay™, a mobile wallet solution that also utilizes NFC technology. Now, Bank of New Hampshire is one of the first community banks in the state to support all three major mobile wallet options with their recent inclusion of Samsung Pay™ & Android Pay™. Mobile Wallets give cardholders the ability to virtually store their debit cards in supported smartphones, tablets, and smartwatches. Rather than reaching for your debit card, purchases can be made at participating merchants by placing a supported mobile device next to a merchant’s payment terminal.
Contactless mobile wallet transactions utilize “Tokenization” where the debit card information is never passed to the merchant during a purchase. Instead, a one-time use number (token) is generated to conduct the transaction. So for merchants who accept mobile wallet payments, cardholder’s information will never be exposed if that merchant were to be compromised. Additionally, each mobile wallet incorporates an added security layer (fingerprint, PIN, pattern) to authorize a purchase.
Nationally, credit and debit card fraud is on the rise due to the continued merchant compromises and the increased use of skimmers. “It is our goal to offer the latest technology in an effort to make transactions safer and more convenient for our customers” states Eric Carter, SVP of Electronic Banking at Bank of New Hampshire. Shortly, the bank will again be on the technology forefront with their scheduled deployment of EMV chip cards with NFC contactless functionality. A unique feature among community banks in New Hampshire.
Bank of New Hampshire, founded in 1831, provides deposit, lending and wealth management products and services to families and businesses throughout New Hampshire. With 24 banking offices throughout New Hampshire and assets exceeding $1.4 billion, Bank of New Hampshire is the oldest and largest independent bank in the state. Bank of New Hampshire is a mutual organization, focused on the success of the bank’s customers, communities and employees, rather than stockholders. For more information, call 1-800-832-0912 or visit www.BankNH.com.
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1-800-832-0912 · www.BankNH.com
Tiffany BaertPublic Relations Officer