eWise payo is set to enable customers to make payments for goods and services or bills online, without having to provide personal financial information to a third party. To use eWise payo, customers are directed straight to their banks website where they log in using their existing account credentials, then proceed to choose an account with available funds and confirm the payment, once they are logged in their online banking application. The eWise technology enables the payment, via the UKs Faster Payments network.
eWise payo enables banks to build upon and capture market share, while retailers have the opportunity to benefit from reduced shopping cart abandonment.eWise implements OBeP networks, via Secure Vault Payments network in the US and as a founding member of the International Council of Payment Network Operators (ICPNO).
On 1 February 2011, eWise will present its eWise payo mobile at fin tech innovations conference Finovate Europe 2011. The application enables payments via a mobile device. Being in talks with banks, merchant acquirers, PSPs, eWise has brought forward its initial launch, planned for 2012, and intends to make an announcement in Q2/Q3 2011.
Secure Vault Payments network in the US enables consumers to make payments for purchases and bill payments via their financial institutions online banking platforms, the eWise Payment Switching technology.
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