Thursday, July 2, 2009

Philippine Online Payment Expands to Europe and North America

We're announcing the integration of UseMyBank to PayEasy today. UseMyBank is a Canadian based online payment company that focuses on direct bank debits. By integrating with their system, PayEasy can now accept real-time online payments from Australia, Austria, Belgium, Canada, China, Germany, Netherlands, Switzerland, and UK.

What makes their service very different from the other gateways I've met is their anti-fraud screening mechanism. When you register or use UseMyBank for the first time, their automated system will perform a call-out to your number. You then need to key-in the 4-digit PIN that you see on your screen. Its their way of validating your telephone number. With this system, they claim to have at least a 99.9999% fraud-free transaction rate. That's great news for merchants who are used to dealing with credit card fraud.

Because of the very low rate of fraud, UseMyBank is popular with high-risk merchants such as online gambling and remittances. In fact, most of the online casinos use UseMyBank's service for getting funds from their bettors. These are two niche markets that we hope to tap into.

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