User:Ewise/sandbox
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[edit] eWise Network – Safe Online Payments
eWise network addresses key industry challenges, including consumer privacy and security concerns, prevalent with online payments by enabling secure online consumer transactions that are authenticated and initiated directly through the consumers’ own online banking service. Financial institutions can leverage their existing infrastructure to generate new revenue streams while businesses will benefit from real time authorisation of guaranteed payments and reduction of risk and fraud.
How it Works: 3 Steps
Selection : Consumer selects eWise Network payment option at Merchant’s checkout
Authentication : Consumer logs into online bank to authorise automatically populated transaction payment details
Confirmation : Payment authorisation received by merchant and online receipt presented to consumer
How does this help the payments industry?
Consumers
• FI is already a ‘trusted’ provider of private financial information
• Security and privacy – no financial information shared with the business
• Bill payments, fund transfers and online purchase payments
• Familiar user interface with online banking
Financial Institutions (FI’s)
• New revenue stream - FI’s currently generate little direct revenue from the online banking channel
• Uses existing infrastructure
• Meet growing demand from businesses and governments for new online payment services
• Reduces risk and fraud
Businesses
• Sales lift – potential for new consumers, higher value transactions, more purchases
• Real-time authorisation of a guaranteed payment
• Lower shopping trolley abandonment
• FI authenticates known consumers
• Eliminates need to secure and protect consumers’ financial data
The Trusted Solution
eWise offers significant expertise in developing, implementing and supporting high volume, high reliability online banking & transaction systems.
Following a successful Proof of Concept phase, eWise has been selected as the network provider for the NACHA Online Payments Pilot in the USA.
The eWise network also includes successful implementations in Australia, NZ and South Africa which are live and processing transactions.
About eWise
eWise Systems is experienced in developing and implementing online payment and banking applications for financial institutions and businesses transacting online. eWise has offices in the UK, USA and Australia offering a range of complementary solutions including the eWise network and eWise Account Aggregation, currently in use by over 1 million end-users. eWise technology is patented in Australia with patents pending internationally, including the USA and UK.
For more information call us on +44 20 7661 9311 or email us at enquiries or visit eWise Systems.
