New day with a new payment systems

With a growth of electronic commerce almost every day is accompanied with news about launching of some new payment system. So, recently the world was introduced to a new British payment system named eWise called to perform online transactions safe and secure in the best British traditions.   eWise wisely thinks that the believe of customers can be won only by keeping customer bank details secure and by reducing online fraud.

Unlike the most part of internet payment systems, the eWise network conducts transactions without any financial or personal details being made available to either the retailer or eWise. Instead of this, it relies on the transfer of funds directly between bank accounts. Customers can make various payments directly from their bank accounts and they are not restricted to pay from one account or card, where, for example, accounts are linked.

There are no special requirements to use eWise. Every user having an account at a supported UK bank can use eWise to pay anywhere it is accepted. For this the user just needs to download the eWise network software and choose his bank from a drop-down menu. After he will be redirected to the selected bank where he will log in and confirm the payment. Facilitates of eWise technology provide a receipt to the customer and online retailer to confirm the transaction details.

Mark Matthews, managing director at eWise Systems, said, "The system is not trying to reinvent online payments. It is a much-needed addition to the sector, offering security for consumers and flexibility for retailers."

The system just completed testing phase with a selection of UK-based online retailers, and is expected to bring on board merchants for a full commercial roll-out.

                                                                                                                                                  Aynny, reporter of Ecommerce Journal