June 22, 2006
Yeald
By: Brian Crozier
UseMyBank Services has pioneered a way for consumers with online banking to make "Instant Online Debit Payments" to Internet Sellers with UseMyBank.
This is great news for the 30-40% of North Americans without credit cards and those who do not feel comfortable giving online merchants their credit card number. At the Seller's checkout, a Buyer selects their financial institution and makes an instant debit payment from their online bank. Online banking is the fastest growing activity on the internet today.
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 30%.
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.
Over 12 million Canadians have been able to make "instant online debit payments" to Sellers with UseMyBank since 2002. 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 summer, millions of Americans and Europeans are about to get the same choices. Sellers want that buying power and consumers love the new choices and control they have to make online purchases. Many for the first time in their lives.
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