eCommony Inc. launched its
patent-pending PayToCard Network — a person-to-person
credit card payment-enabling technology for use over the Internet.
The company said the PayToCard Network offers every Web site, host, portal
and ISP a complete drop-in person-to-person (P2P) payment infrastructure.
Any
Web site can enable P2P e-commerce and for the first time, individual
consumers can electronically accept secure credit card payments at the Web
site of their choice, without registering at third party sites, eCommony
said. The user does not even have to register as a PayToCard member.
“PayToCard removes the last obstacle to true P2P e-commerce,” said Nitai
Alush-Aben, chief executive officer of eCommony.
“Secure electronic payment
systems are no
longer limited to businesses. Every Web site using PayToCard services can
allow credit card holders to process electronic transactions and accept money
electronically.”
“The PayToCard Network is another step in empowering Internet users to
conduct business without intermediaries,” said Alush-Aben. “Our system allows
direct online transactions between any two people, anywhere and anytime.”
PayToCard creates new opportunities for individuals to engage in private
e-commerce, ranging from classifieds and garage sales to auctions and home
businesses.
‘Mediator platforms’ such as auctions and classifieds Web sites will be the
first to take advantage of the new P2P payment solution, eCommony said.
Within a day after signing an agreement with eCommony, the mediator platform
will be able to provide the service to its visitors.
Patent pending risk management systems and fraud detection and prevention
techniques are built in to the network, the company said. The revenue model
is to eventually charge participating Web sites.
When the buyer and seller agree to execute the transaction, at a
PayToCard-enabled Web site, the transaction will be performed through the
PayToCard Network transparently to the users.
The seller gets the payment
credited directly to his or her credit card account. Both buyer’s and
seller’s personal details — such as credit card numbers and other private
information — are kept confidential, encrypted and anonymous, eCommony said.
eCommony is privately held by its founders and eXseed venture capital.
