UseMyBank is an innovative company focused on providing an alternative to the existing payment processing market place. This is done by simplifying and streamlining the clients ability to pay for goods and services over the Internet using their existing Financial Services provider. While UseMyBank as an enterprise is new, the senior management team has over 30 years' of successful experience implementing Financial Services applications, solutions, and payments systems.
UseMyBank was founded on the principle that the Financial Services sector is evolving at a remarkable rate, and that those companies - which choose to use the financial markets - must 'keep up' with the pace of change. As payment systems and infrastructure become increasingly complex, many companies will seek service providers to deliver all the basic infrastructure components - bundled in a way that they can be obtained and paid for in simple terms. Furthermore, we believe customers will pay a premium for these services if they are integrated seamlessly, can be delivered in a flexible manner, and are ready to embrace leading-edge thinking with existing online payment technologies.
UseMyBank provides an innovative and secure online instant payment method using the buyers own Financial Institution. Our Automated Online Payment Interface provides the buyers the ability to make payments at their own Financial Institutions supported Internet site.
Our Automated Clearing and Settlement system for Sellers and Affiliates allows wire transfers, cheques, and several other methods to be used. Easy to use summary and detailed reporting and management tools are provided.
Most of the similar payment solutions have focused on using Industry Standards (OFX, XML, JPOS, etc), or by implementing a proprietary connection to the Financial Institution using Interface Standards (ISO 8583), or simply a online form for credit card, debit card, or any other existing online payment service. All these solutions require direct contact with Technical and Business resources within the Financial Institution or Service Providers.
UseMyBank does not use any of these methods. Rather, UseMyBank leverages the exisiting online systems functions and capabilities within the clients own Financial Institution in a real-time fashion. These transactions are done from clients own Chequing, Savings, or Credit Card account. The fact is the existing online payment systems require that the client enter their Credit Card, Transit/Route/Account, or other forms of personal traceable markers.
UseMyBank will have none of it!. UseMyBank uses the same systems in place today throughout the Banking, Retailing/Billing, and Consumer 'brick and mortar' (physical) community. We are simply interested in the confirmation of the payment to deliver an online real-time payment solution! All this without storing any personal information in our system.
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