CDCOIN, Inc. provides banks with a competitive edge by enabling them to offer next generation Internet payment services. Our e-Direct solution is the world’s first "Pay Anywhere" solution, eliminating the need for prior settlement relationships between the bank and the individual merchant - creating superior security standards, easy and convenient usability, new revenue sources and increased customer satisfaction.

e-Direct offers a secure online payment solution that allows banks to take part in the online e-Payment market, while offering customers a tremendous amount of convenience and creating a strong advantage against competition.

Our e-Direct solution enables bank customers to pay on the Internet without the necessity of using credit cards by directly charging their bank account.

For the first time, with CDCOIN e-Direct patented technology, banks do not need to concern themselves with establishing settlement relationships or clearing agreements with individual merchants. Subsequently, merchants do not need to install any special software and are totally uninvolved in the process.

This accomplishment is achieved by utilizing existing e-payment methods, clearing mechanisms and settlement relationships, which are already in place, while integrating seamlessly to the Banks’ existing IT infrastructure with minimal impact.

e-Direct applications allow banks to:
  -Offer their clients a payment solution that is accepted at any website.
  -Generate additional revenue.
  -Enhance the Banks’ brand and improve image.
  -Sustain and improve market share.
  -Create added value e-Services for underage customers.
  -Reduce the risk of fraud.
  -Reduce processing costs and improve efficiency.

The Transaction Model

CDCOINs’ e-Direct technology is based upon a unique patented triangular transaction model. This structure enables the consumer to shop at any merchant website and, at the time of purchase, instruct his/her bank to complete the transaction on his/her behalf and subsequently debit his/her bank account. The consumer does not use a credit card, nor are any of his/her personal payment details forwarded to the merchant through the web -thus, protecting the customer from unauthorized viewing or fraudulent exploitation.

In a typical transaction using other e-payment methods, the purchaser selects the goods for purchase at a merchant website and then pays for merchandise using a standard payment method - usually a credit card. The transaction is then settled via existing clearing processes between the merchant and a chain of processors (credit card companies) that lead to the customers’ credit account. All other existing e-Payment methods require a direct settlement mechanism between the payment service provider and the merchant, necessitating a technological interface. These e-payment solutions are limited to the few websites, which have accepted the specific technological interface and settlement agreements. Consequently, there are a multitude of e-payment solutions that can only be accepted by limited groups of e-merchants.

In a typical CDCOIN e-Direct transaction, the purchaser selects the goods for purchase at a merchant website. At point-of-payment, the purchaser is redirected to the CDCOIN e-Direct server at the bank. The purchaser provides his/her digital signature to the bank. The bank approves the purchaser’s available balance and submits the bank’s own secure payment information to the merchant in order to approve the purchase. Using e-Direct, the bank is able to utilize all existing standard payment methods, thus allowing payments to be conducted at any merchant website without the need for any form of prior settlement relationships with the merchant.

This model provides the ability to pay anywhere (universal payment method) and significantly enhanced transaction security and privacy.

The e-merchant accepts the bank’s standard payment method, without being able to view or store the customers’ personal payment details. The bank debits the consumers’ e-commerce purchases directly to their bank account.