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The #1 consumer fear in America is the fear of bankcard fraud. As a result, over 70 million Americans are wary about shopping online. Fraud costs the payments industry just under $9B annually.  And merchants are forced to pay a premium for accepting card payments online because they are considered “higher risk”—as a result of an antiquated card-based system, that is, not necessarily because of the merchant’s business.  The core, fundamental flaw is this: consumers must trust strangers to keep their sensitive financial information and identity data safe in order to make a payment online. Paytopia offers a new way to pay online that virtually eliminates the possibility of consumers becoming victimized by fraud. By partnering with banks, Paytopia leverages consumers’ intrinsic trust in their banks while generating revenue and reducing risk for the banks. Consumers are able to shop online without ever entering financial account information on the internet–not even in Paytopia’s systems.


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