International financial software firm eWise Systems has activated the online payment system eWise's network in UK which supposedly protects customers from fraud. Transactions via eWise network do not require any financial or personal details to be revealed to the retailer or eWise, since they imply a transfer of funds directly between bank accounts. Consumers are able to pay for goods and services online from any account they choose. The client of any UK bank can pay via the eWise network if the online retailer provides this payment option. Customers can access it by downloading the eWise network software and choose the bank from a drop down menu. They enter their bank’s website, log in and confirm the payment. The eWise technology offers the customer and online retailer a receipt containing transaction details. There are no monthly fees for retailers, as they are charged only per transaction.
The eWise Systems payment technology is part of the payment systems for online merchants and billers in Australia, USA, South Africa and New Zealand. Mark Matthews, managing director of eWise Systems, comments: “Security remains a key concern for online buyers, and shopping cart abandonment is still very high. Surveys show that as much as 40% of credit and debit card fraud occurs online, and consumers are understandably wary about having to pass on sensitive financial information in order to shop on the internet. “http://epnn.com/content/view/16149/419/
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