LevelUp and First Trade Union Bank Develop Revolutionary Custom
Mobile Payment and Loyalty App
BOSTON, MA -- (Marketwire) -- 12/05/12 -- First Trade Union Bank
(FTUB) is joining the mobile payment revolution by creating its own
custom-branded payment and loyalty app with mobile payments innovator
LevelUp. This partnership makes FTUB the first bank to introduce a
LevelUp-powered mobile payment solution, giving its customers access
to the largest merchant network in the country.
The new app, currently under development, will combine the best parts
of LevelUp's technology with customers' existing FTUB mobile banking
suite of applications, allowing them to pay with their phones at any
LevelUp merchant location while unlocking exclusive offers in the
"Smart banks like First Trade Union Bank are realizing that mobile
payments will become just as big of a part of their business model as
mobile banking apps themselves," said Seth Priebatsch, chief ninja,
LevelUp. "By developing a custom app with LevelUp, First Trade is, in
one fell swoop, tying the bank even more closely to local businesses
and creating additional savings and convenience for customers that
meshes perfectly with their mobile lifestyles."
The new mobile payment app will be integrated with both the First
Trade Union Bank Debit Card and mobile app, and include a number of
enhancements to deliver an industry-leading mobile banking
experience. Consumers using the new FTUB mobile payment app can
unlock exclusive rewards and immediately start paying with their
phones at the more than 4,000 merchants who have signed on with
LevelUp to date.
Ultimately, the app's functionality is expected to be a win-win for
the growing number of businesses using LevelUp's interchange zero
network as FTUB will be launching exclusive offers designed to drive
even more loyal customers through their doors. And it'll be a win for
FTUB by introducing their brand to a large number of potential new
account holders and adding a whole new set of value propositions to
their existing user experience.
"This is a partnership of two like-minded, forward-thinking companies
with the vision and expertise to deliver something new in the banking
industry: an elegant, simple and widely-accepted payment solution,"
said Michael Butler, president and CEO, First Trade Union Bank.
"LevelUp's expansive merchant community and loyalty rewards features
will provide instant value and convenience for First Trade customers.
They will be able to leave their wallets at home and still have quick
access to their funds."
The FTUB mobile payment app is scheduled to be available early next
year for general consumer usage on any iPhone or Android device.
About First Trade Union Bank
With assets of more than $629 million,
First Trade Union Bank (www.ftub.com) is a well-capitalized community
bank offering a full complement of business and consumer products and
services. First Trade has a long-standing reputation for serving
middle market, small business, unions, government entities and
consumers as its core clients. First Trade also offers the most
advanced technologies in Online and Mobile Banking for consumer and
business customers. First Trade is headquartered in Boston's
Innovation District with Banking Centers located in Massachusetts and
New York. First Trade is a member of the Federal Deposit Insurance
Corporation, an Equal Housing/Equal Opportunity Lender, and a U.S.
Small Business Administration (SBA) Preferred Lender. Additional
information is available online at www.ftub.com. Ongoing updates are
also available by following @FTUBank on Twitter.
LevelUp is a revolutionary new way to pay. Users pay
with their phone, saving time and money. Businesses pay 0% payment
processing fees and re-invest those savings into growing their
businesses by attracting new customers and bringing them back.
LevelUp is a part of SCVNGR, which is backed by Google Ventures,
Balderton Capital, Continental Advisors, Highland Capital, Transmedia
Capital and T-Venture, the venture arm of Deutsche-Telekom.
LaunchSquad for LevelUp
Mike Farber or Erica Orthmann
levelup [at] launchsquad [dot] com
Stackpole & Partners for First Trade Union Bank
cpandapas [at] stackpolepartners [dot] com
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