UseMyServices

UseMyServices (UMS), formerly UseMyBank Services and UseMyBanx Services, is a global e-commerce business that provides online payment options through real-time debit transactions that use online banking systems developed through existing bank infrastructures.
Business
In 2007, UseMyBank’s processing partner GPay lost its biller status with Canadian banks, leaving UseMyBank with no processor and no ability to continue facilitating transactions. As a result UseMyBank was forced to rebuild by choosing to be both a payment processor as well as providing the technology needed to facilitate payments. Previously UseMyBank relied on GPay for processing and focused on developing the technology as well as marketing. UseMyBank discussed the issue of banks blocking access to their networks and restricting competition before Canada’s House of Commons that year.
UseMyBank was featured twice on CBC’s Dragons' Den in 2009 and 2010 where the company rejected two separate offers from the Dragons for $1,000,000 in equity in exchange for a substantial share of the company’s profits. The events led to increased media coverage of the company including a commercial by Rogers Wireless and an appearance by company representatives as keynote speakers at Canada 3.0.
UseMyServices mainly relies on its flagship service, UseMyFunds (formerly UseMyBank), to facilitate online bank payments. The service involves the customer logging in to their online bank through the UseMyFunds interface to approve the transaction.
In 2010, UseMyServices rolled out its UseMyWidget and UseMyBiller customizable payment interfaces.
UseMyServices also has a prepaid voucher service called UseMyCard where customers can purchase 3V Visa and Ukash vouchers through UseMyFunds. Usemycard.com is an authorized Interac Online merchant through Debitway. In 2011, UseMyServices also announced its intention to integrate an eNett virtual card solution in order to add support for a virtual UseMyCard Travel MasterCard. The card is prepaid for the exact amount needed for the purchase, allowing customers to simulate a credit card purchase without actually having to own a MasterCard credit card.
Controversies
In 2005, UseMyBank and its payments processor GPay sued the Bank of Nova Scotia and launched a formal complaint to the Competition Bureau over "alleged 'bully-boy' tactics by the major Canadian banks in the run-up to the launch of their competing Interac Online payments service". UseMyBank claimed that the Bank of Nova Scotia, following similar moves by the Toronto-Dominion Bank and the Canadian Imperial Bank of Commerce, had closed their biller account, forcing them to switch to a more expensive payment solution. The banks cited fraud fears in their decisions and concerns that UseMyBank is passing itself off as an authorized payments provider. A tribunal rejected UseMyBank’s claims under the Competition Act. UseMyBank has since registered with FINTRAC as a money service business in Canada.

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