UseMyBank Expands Global Coverage - June 2008

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UseMyBank Services, Inc. announced today that the company's new network expansion will give it's Merchants and customers real-time direct debit access for online purchases in 6 countries, and more than 45 banks throughout Europe and China.

UseMyBank Services, Inc. announced today that the company's new network expansion will give it's Merchants and customers real-time direct debit access for online purchases in 6 countries, and more than 45 banks throughout Europe and China.

"This is a huge step for us - but it's just the beginning of what we have planned for 2008," said Joseph Iuso, CEO, UseMyBank.
UseMyBank offers ECommerce Merchants and their customers the following:

  • Online banking customers of 45 banks in 6 countries can now use their bank accounts to pay for services and merchandise online,
  • UseMyBank offers instant transaction verification, unlike ACH or EChecks
  • A secure, safe, real time alternative to credit cards
  • Online Direct Debit offers the online Merchant safe entry into new market areas, where credit card use is limited or almost non-existent with minimal risk
  • UseMyBank's AFS Anti-Fraud System prevents and detects fraudulent use of bank cards quickly, reducing losses due to fraud, and assuring a good funds model of 99.9999%,

"Debit is the fastest growing payment method globally in the 'brick and mortar' retail world, with growth rates that have surpassed the rate of credit card growth the past few years," said Joseph Iuso, CEO, UseMyBank, "Any Merchant that offers customers debit online is simply allowing their customers to extend their offline shopping habits to their online purchases. It follows the basic tenants of Web 2.0 by allowing the Buyer more options for payment - and to finally use the payment method most used offline."

With the system expansion, UseMyBank now offers real-time Online Direct Debit in Austria, Netherlands, Poland, UK, & China, with Germany, Sweden, Finland, Norway, & Denmark scheduled to golive after June 2008. For a full list of banks available in each country, please visit the UseMyBank website at http://www.UseMyBank.com/banksignup.asp.
Pre-Authorized Debits (PADs) are available for Canadian residents.

About UseMyBank Services, Inc.
UseMyBank offers a real-time debit payment option to the existing payment processing market place. The company's technology allows clients to pay for goods and services directly over the Internet using their existing financial services provider. The UseMyBank enterprise was founded in 2002 by a senior management team with over 50 years of experience implementing financial services applications, solutions, and payment systems.

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Contact:
Melody Wigdahl
UseMyBank Services, Inc.
513.922.6158
melody(at)usemybank.com
http://www.usemybank.com

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Joseph Iuso

Melody Wigdhal

513-922-6158
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