Systems41, Inc. is developing a new approach to online transactions and bill-pay called Pay41 (For One). Current e-commerce transaction systems do not address real consumer needs. To address these needs, Pay41 delivers:
- Security: Transactions that do not require consumers to divulge payment account information to merchants who store that information in the cloud.
- Efficiency: Consolidation of all bills and accounts in one location - payable in a few clicks.
- Ease of Use: Instant secure access to all consumer payment accounts without additional logins; instant account balance; user-friendly financial management features that do not violate bank terms of service agreements.
Consumers using online transactions:
- E-Commerce: $218 Billion in 2012 Domestic Online Retail.
- Online Banking: used by72.5 million U.S. households; 80% of all households with internet access.
- Online Bill Payment: used by 36.4 million U.S. households; 40% of all households with internet access.