First bank payment solution for P2P payments in social networking communities

SeerGate is introducing the first payment solution for banks to offer their customers a direct P2P payment service in social networking environments, including Facebook.

SeerGate’s Secured Lock e-Debit System enables buyers and sellers to securely and conveniently complete P2P payment transactions in social networking environments. Using a free application provided by SeerGate, the seller generates a personal invoice, which is immediately verified by the seller’s bank and sent within the social network to the buyer. After approving the invoice, the buyer is then authenticated by his/her bank and the payment transaction is completed in real-time directly between the bank accounts of the buyer and seller. The payment transaction is completed without any sensitive financial information being exchanged or transmitted over the Internet.

By facilitating direct P2P payments in social networking environments, the Secured Lockâ„? e-Debit System enables banks to attract Gen Y users, recapture brand loyalty and respond to their customers’ growing demands for e-payment services.