e-Payment System That Uses Banks and CUs and no Cards

MIAMI BEACH – With the growing threat to online cards purchases, officials of SAF-T-PAY are poised to launch an Internet payments system that bypasses credit cards and makes e-commerce purchase directly through a consumer’s bank or credit union. The non-card payment system, which is being shown at this year’s Venture Capital Conference today, is designed to allow those consumers who typically shy away from online transactions, for fear of fraud or identify theft, people without their own cards, or those whose cards are not accepted for cross-border purchases. SAF-T-PAY’s proprietary e-payment system capitalizes on the company’s growing relationships with financial institutions and allows consumers to shop internationally. Customers do not provide any personal financial information to either the merchant of SAF-T-PAY.