Under the terms of the deal, clients that have a checking account at one of the two banks will gain access to the service by signing up for a BlingTag, a quarter-sized microchip sticker that adheres to the back of their mobile phone to enable debit transactions directly from their account.
Once the purchase is made, consumers will receive a transaction confirmation as well as a text message with their updated account balance. The BlingTag does not store personal consumer information, thus lowering the risk of exposure to identity theft and fraud.
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