ING DIRECT Launches Bump for iPhone

WILMINGTON, Del. May 3, 2011 /PRNewswire/ -- ING DIRECT, the nation's largest direct bank, today unveiled Bump Person2Person Payment technology that allows Electric Orange(SM) Checking account Customers with iPhones® to instantly and securely send money to one another.  Today's announcement makes ING DIRECT the first U.S. bank to offer this bump-enabled feature to checking account Customers.  

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With Bump technology, Electric Orange Customers can send money to each other by simply entering a dollar amount into ING DIRECT's mobile Person2Person Payment feature and "bumping" their two iPhones together. This will initiate an instant payment between their Electric Orange accounts. This makes it easy to pay a friend back for a meal and avoid the hassle of coming up with exact change.

"Today, cash is no longer king," said Arkadi Kuhlmann, President and CEO of ING DIRECT.  "Only seven percent of ING DIRECT Electric Orange Checking Customers say they pay primarily with cash.  With Bump technology, ING DIRECT Customers can leave the cash at home knowing they have a smartphone in their pocket."

The new feature comes at a time when the number of Americans using only a smartphone for banking is increasing - up from one million in 2010 to two million in 2011 and expected to increase to 10 million in 2015, according to NetBanker's Online Banking Report.  Americans' use of online and mobile Person2Person Payment will increase 550 percent from two million in 2010 to 13 million in 2015.  At ING DIRECT, there has been 200 percent annualized growth in mobile Person2Person Payment usage in the first quarter of 2011 compared to the last quarter of 2010.

Bump technology adds to Electric Orange's appeal as an innovative, no fee online checking account.  Currently, Customers receive free online bill pay, free access at over 35,000 ATMs, a no fee overdraft line of credit, free Person2Person Payments and the ability to mail paper checks for free.  There are also no monthly fees and no minimum account balances required.

Customers using ING DIRECT's BlackBerry® or Android™ banking apps or the mobile website can continue to send money for free using the email-based Person2Person Payment feature.  They can send money to anyone who has a checking or savings account in the United States through a secure link connected to the user's email address.  

For more information, visit www.ingdirect.com/mobile.

About ING DIRECT

ING DIRECT, the nation's largest direct bank and largest thrift, is dedicated to inspiring Americans to become a nation of savers. Since its inception in 2000, more than 7.6 million Americans have entrusted their savings with ING DIRECT, building the bank to nearly $91.3 billion in assets.  ING DIRECT has developed a comprehensive social media Savers Community, including Twitter, Facebook and it's We, The Savers blog.  For more information about ING DIRECT call 1-800-ING-DIRECT, and for information about its commitment to financial education visit Planet Orange(SM).  

Style note to Editors: ING DIRECT is always capitalized and never referred to as ING.

MEDIA CONTACT:
Laura DiLello, ING DIRECT
302.467.6449
[email protected]  

SOURCE ING DIRECT