First Internet Bank of Indiana, the first Internet-based state-chartered institution with customers in all 50 states, has begun issuing debit cards that include contactless Visa payWave functionality. As with most contactless programs, users won’t have to sign for purchases under $25.
Since its launch ten years ago, First Internet Bank, with more than $540 million in assets, has offered customers a lineup of account access services, including a Web site with self-service features for anytime account access, and traditional magnetic stripe Visa debit cards.
The contactless debit card offering is the most recent enhancement to the bank’s lineup. The bank has also introduced mobile banking as well as personal budgeting and account aggregation services in the past 12 months.
“Studies have shown, and our employee pilot program confirms, that cardholders find contactless payments to be fast and easy,” said the bank’s president and CEO, David B. Becker.