We don’t broadcast the details

Specifically your consumer’s bank account number/credit card numbers are NOT transmitted over the Internet. You authorize payment by responding to the NetCents system prompts and then an automated funds transfer transaction is generated between the merchant’s and NetCents’ banks. Your bank is never involved in the transfer of funds from account holder to merchant. Your financial institution is only involved in the transfer of funds direct from your bank or credit card account to NetCents. This program architecture is what makes NetCents truly unique in the world of electronic payment processing. We put you in control of the payment process at all times with vital information always protected by your bank.

Pre-verified funds and real-time validation

As well, unlike traditional credit card transactions, many alternative payments often provide additional security features that protect the merchant from fraud and returned transactions. This is because the funds availability is pre-verified and payment is made directly from a bank account. The banks guarantee the funds and because there are no charge-backs, merchants are often not required to provide collateral or keep a reserve. Furthermore, accounts are validated in real-time and fraud modules scrub transactions, similar to the approval process with credit cards.

Your digital authorization required

It should be understood that at no time can NetCents “reach” into your financial institution to secure funds or facilitate the movement of funds from within that account. A NetCents account is a separate and secure entity to which you, the consumer, deposit funds for payment. Payment to a merchant after completion of a transaction is authorized by the NetCents account holder for that amount and that amount only. Additional funds cannot be removed from a NetCents account without the account holder’s digital authorization.

No data to see means no data to steal

NetCents prevents online fraud as data is protected by the bank and remains behind their firewalls and theft of customer data is eliminated for there is no data to steal. Even the aspect of mail fraud is protected against, since no paper statements are issued. All account activity is available to the user upon accessing their NetCents profile via the web.

Further, NetCents constantly logs all activity. The system has been designed to maintain a complete audit trail of all transactions, financial and otherwise. To this end, daily reconciliation of all NetCents consumer and merchant activity is conducted at the close of each business day.