UseMyBank's Payment Alternative

Jerrold Springbok

Toronto, Ontario – In response to the ongoing credit card problems facing the adult industry, UseMyBank Services, a Canadian financial company, is offering a billing solution with zero charge backs that can help legitimate content sites accept instant payments from their clients that have online banking.

“I know the industry is having a lot of problems processing payments and our company has the tools to help make webmasters more money.” Said Brian Crozier, Vice President of Business Development for UseMyBank Services, adding “We are the world's first and only company offering North Americans the ability to make instant online debit payments. We have revolutionized the payment industry by leveraging the existing online banking system of the major banks in North America to facilitate real time instant cash-like payments.”

UseMyBank allows buyers to use their existing online banking ‘bill payment’ service through each of the supported banks in order to make payments to registered sellers. Sellers sign up for a UseMyBank account and can accept instant online payments in minutes.

Unlike some other alternative payment systems, buyers do not have to sign up with UseMyBank to make their payments to sellers. The fully automated process is similar to their regular online bill payment methods. Another difference is that sellers are notified online and in real-time of the payment. This allows the seller to deliver the product or service right away. In essence, the buyer makes an immediate online payment with the funds directly debited from the selected account.

UseMyBank launched on December 12th, 2002 with all the major Canadian banks, and has been operating successfully ever since, adding 1000's of sellers to its roster. The largest merchants and billers are creating a huge buzz at their banks about this innovative service. Merchants who accept credit cards can increase their online sales by 20% by now including UseMyBank’s instant debit function.

UseMyBank offers over 8 million online accounts in Canada that can use their service today, and are adding 30 million US online accounts starting in January, with an expected doubling of online banking in the next two years to 60 million in America alone.

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