UseMyBank Services, Inc. (http://usemybank.com/) has joined the NACHA Internet Council. The mission of the Internet Council is to facilitate electronic commerce over open networks by enabling business, government and consumers to transact in a secure and cost-effective manner.
Toronto, Ontario (PRWEB) September 20, 2006 -- UseMyBank Services, Inc. has joined the NACHA Internet Council. The mission of the Internet Council is to facilitate electronic commerce over open networks by enabling business, government and consumers to transact in a secure and cost-effective manner.
"Based on UseMyBank's success in the area of online direct debit, we believe that our membership in NACHA's Internet Council will help make a positive impact on the ACH network by working together to promote efficiency, reliability, and security," said Brian Crozier, VP of Business Development, UseMyBank.
UseMyBank offers all Financial Institutions the following:
- A real-time debit payment option for Financial Institutions that may have IT resource constraints,
- ZERO internal and external implementation/operating costs for Financial Institutions,
- Financial Institutions are able to negotiate fees with its merchants and splits are based on services provided,
- UseMyBank's AFS Anti-Fraud System prevents and detects fraudulent use of bank cards quickly, reducing losses due to fraud, and assuring a good funds model of 99.9999%,
- Working with the Financial Institutions existing infrastructure to provide key operations and client support, including training and risk aversion management.
"The past four (4) years in Canada have demonstrated that we are fully aware of all the major issues surrounding online debit. Everything from risk aversion management, customer support, trends, and other valuable information is readily available to us. We would hope that this would prove invaluable to an organization such as NACHA," said Joseph Iuso, CEO, UseMyBank.
About NACHA - The Electronic Payments Association
NACHA is the leading organization in developing electronic solutions to improve the payments system. NACHA represents more than 11,000 financial institutions through direct memberships and a network of regional payments associations, and 650 organizations through its industry councils. NACHA develops operating rules and business practices for the Automated Clearing House (ACH) Network and for electronic payments in the areas of Internet commerce, electronic bill and invoice presentment and payment (EBPP, EIPP), e-checks, financial electronic data interchange (EDI), international payments, and electronic benefits transfer (EBT).
Visit NACHA on the Internet at www.nacha.org.
About UseMyBank Services, Inc.
UseMyBank offers a real-time debit payment option to the existing payment processing market place. The company's technology allows clients to pay for goods and services directly over the Internet using their existing financial services provider. The UseMyBank enterprise was founded in 2002 by a senior management team with over 50 years of experience implementing financial services applications, solutions, and payment systems.
Contact:
Brian Crozier
UseMyBank Services, Inc.
416-667-0700, ext. 7
http://usemybank.com/
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