Three major Canadian banks, CIBC, Scotiabank and TD Bank Financial
Group have signed a letter of intent with CertaPay Inc. to offer their
customers the latest in
payment innovation and convenience the ability to make secure payments using
CertaPay Inc. is a leader developing state of the art software that lets bank
money securely via e-mail.
This agreement is about taking the speed and convenience of e-mail and applying
payments, said David Marshall, Vice-Chairman, Electronic Commerce, Technology
CIBC. We believe Canadians will take to e-mail payments the same way they ve
taken to e-mail.
It s convenient, fast and secure. IDC Canada research predicts almost one
will e-mail $2.2 billion in payments within the first 12 months of
CertaPay will enable banks to integrate a P2P payment capability into their
services. To make a payment, bank customers will access their accounts online
and specify the
recipient s name and e-mail address. The recipient will receive an e-mail
instantly with directions on how to collect the payment securely and in
Canada s financial institutions are world leaders in offering our customers the
innovations to make it easier and more convenient to do their banking, says
CEO of e-Scotia and Scotiabank s Executive Vice-President of Electronic
Scotiabank, we see this new e-mail service as marking a significant step
encouraging more Canadians than ever before to go online and try out the
sending money securely using
CertaPay s service offers the best way to offer P2P payments because it works
banks existing secure infrastructure. Most U.S. e-mail payment services
operate outside the
banking system so consumers need extra accounts, passwords and IDs to send and
E-mail payments expand what Web banking customers can do online, says Chuck
Vice President, TD Canada Trust. Right now, consumers can view their accounts,
funds between accounts at the same bank and pay bills to businesses. With
can send money to and receive money from anyone with an e-mail address. It
will be the
service that encourages more Canadians to bank online.
Millions worldwide will make P2P payments over the next few years, says Michael
CertaPay s President and CEO. A number of international banks have expressed
CertaPay, and we intend to take our payment technology to markets outside of
Scott W. Appleby, an analyst from Robertson Stephens, predicts 42 million
will e-mail P2P payments by 2005.
ABOUT CERTAPAY INC.
CertaPay Inc. specializes in Internet-based payment solutions for financial
designed to open new markets and retain customers. Senior executives
developing world-first e-commerce and financial industry initiatives (such as
Trimark Investment Management Inc., Bayshore Trust and i|money) comprise its
CertaPay Inc. was formed in 2000 as a privately held Person-to-Person (P2P)
CertaPay s Web site is located at: www.certapay.com.