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ECT News Community   »   E-Commerce Times Talkback   »   PayPal could add UseMyBank in 2006

PayPal could add UseMyBank in 2006
Posted by: UseMy 2006-03-31 03:26:55
PayPal going mobile is great! The more payment options's Paypal offers to load their e wallets the better. Our payment method at UseMyBank leverages the client's online bank relationship to make "instant online debit payments" to Sellers with UseMyBank. PayPal could sign up as a Seller with us and accept direct payments from online banking. Zero fraud and zero chargebacks! We process 10's of millions and are in our fourth year.
The choice in the way consumers pay online has important ramifications. Our company, UseMyBank.com allows consumers to pay for online purchases directly from their online bank with no bank account information going to the merchant, just a payment confirmation.
I am suggesting a future article about online banking and online debit payments. Online banking is the fastest growing activity on the internet today and we are the fastest growing company in the online payment industry by leveraging online banking to perform "instant online debit payments". UseMyBank.com pioneered the way for consumers to make real time payments from their online bank, with no bank or account info passed to the online merchant. Consumers with online banking can now make "Instant Online Debit Payments" to Sellers with UseMyBank. At the Seller's checkout, a Buyer selects their financial institution and makes an instant debit payment from their online bank.
Over 12 million online consumers from Canada have been able to make "instant online debit payments" to Sellers with UseMyBank since 2002. This is great news for the 30-40% of consumers without credit cards and those who do not feel comfortable giving online merchants their financial information. UseMyBank is well proven with many of the largest and most sophisticated online banks and internet merchants in the world, processing 10's of millions.
This year most major banks worldwide will be in our network. Sellers want that massive buying power and consumers love the new choices and control they have to make online purchases. Many for the first time in their lives. Almost every retailer offers debit payments in stores and the majority now pay that way. For any online seller to lose a customer because they are unable to process a transaction is costly and preventable. UseMyBank’s payment service has proven to increase online sales for merchants with credit card only sites by 10% to 40%. Today's consumers want full acceptance of all online payment methods and the same choices they have in the bricks and mortar world. Sellers with UseMyBank's debit solution now have another compelling reason for consumers to shop online with them over their competitors.
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Thank you for your time.
Brian Crozier
VP Business Development
UseMyBank Services, Inc.
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