Blackboard Provides Students with Financial Flexibility, Acceptance and Security via the MasterCard Network
Delivers Secure Financial Service Options to Support Learners
WASHINGTON, May 13, 2015 /PRNewswire/ -- Blackboard today announced the expansion of BlackboardPay™, a prepaid card program that simplifies the disbursement of student federal financial aid. Starting in June 2015, institutions offering the program can enable students to use their Blackboard prepaid cards anywhere prepaid MasterCard is accepted. This is Blackboard's latest step in creating programs and solutions across the educational experience that focus on students.
Students will also have access to MasterCard Identity Theft Resolution services that protect their identities in instances of lost, stolen or compromised cards.
BlackboardPay offers students the option of having immediate access to funds while reducing schools' expenses associated with distributing paper checks. The program also protects students by eliminating overdraft exposure and PIN debit fees.
"As a student-centric organization, we fundamentally focus on ease of access and eliminating friction for the student," said David Marr, senior vice president of Blackboard Transact. "BlackboardPay was designed from the ground up to serve students while being aligned with the spirit, the intent and the technical aspects of the Department of Education's disbursement regulations. For the institution, the program reduces costs and cycle time while dramatically improving service and transparency for students."
First introduced in 2010, BlackboardPay was developed to provide students with an alternative to programs charging a range of traditional banking fees, including Nonsufficient Funds (NSF). Beyond eliminating the possibility of incurring NFS fees, student cardholders can make surcharge-free ATM withdrawals on-campus as well as through the nation's largest surcharge-free network of ATMs exceeding more than 55,000 locations via the Allpoint® Network. Powered by First Data's Money Network®, the account is also FDIC-insured, and affords cardholder protections such as Zero Liability and Identity Theft Resolution services.
For more information about Blackboard, please visit www.blackboard.com or follow @Blackboard on Twitter.
About Blackboard Inc.
Blackboard is the world's leading education technology company. We challenge conventional thinking and advance new models of learning in order to reimagine education and make it more accessible, engaging and relevant to the modern day learner and the institutions that serve them. In partnership with our customers and partners in higher education and K-12 as well as corporations and government agencies around the world, our mission is to help every learner achieve their full potential by inspiring a passion for lifelong learning. For more information about Blackboard, follow us on Twitter @Blackboard.
Any statements in this press release about future expectations, plans and prospects for Blackboard represent the Company's views as of the date of this press release. Actual results may differ materially as a result of various important factors. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these statements at some point in the future, the Company specifically disclaims any obligation to do so.
CONTACT
Lauren Dyke, Blackboard Inc.
(202) 463-4860 ext. 2860 or [email protected]
SOURCE Blackboard Inc.
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