Next Generation Payment Structure to Set Benchmark for Online Purchasing Options
Singapore’s largest online payment gateway, eNETS, today announced a strategic alliance with online payment services provider, Chain Fusion, to launch BuyButtonz. This new service will be Singapore’s most affordable, most flexible and fastest payment platform for those wanting to conduct any online, e-commerce transactions over the Internet.
The new BuyButtonz service is powered and managed by Chain Fusion and will tap on eNETS to provide a safe and efficient online payment gateway. This initiative is in line with Singapore Government’s iN2015 master plan for the next decade, where electronic payments will play a vital role in transforming the nation into an intelligent society
Through BuyButtonz, prospective sellers can easily register themselves and attach a transaction button at any HTML website or email, creating new opportunities for small-time users who are selling any number of items. This is a stark difference from existing solutions which require sellers to be at least 18 years old and have a registered organisation to conduct business.
“eNETS is about innovative, smart and savvy solutions and our strategic alliance with Chain Fusion is one of the ways we exemplify this. We can now provide users with a convenient and efficient way of doing business online, no matter how small the transaction,” said eNETS General Manager, Raj Lorenz.
CEO of Chain Fusion, Mr Wong Wei Tuck said, “Our strategic alliance with eNETS allows us to tap on their payment gateway to create synergy with our services. Together, we have created a safe and convenient platform for online transactions. Singaporeans should try using BuyButtonz to find out how easy it is!”
21 year old Amanda Lin, owner of website http://www.koshinaka.blogspot.com and who started selling wigs from the pilot phase of BuyButtonz, said: “BuyButtonz helps me to document sales and saves me the trouble of constantly giving out my bank account number to customers.”
Since the pilot of this system, more than 250 users have registered at http://www.buybuttonz.com. Most of the transactions have an average selling price of between $20 and $60.
BuyButtonz offers the users unprecedented benefits of affordability, convenience, security and speed. The registration is straight-forward and a user can set up an account in just 10 minutes.
The system runs on an SSL2 platform, which is equivalent to most existing secured payment platforms. Further, the system employs a mobile phone 2-factor authentication tool such that buyers receive a security PIN via an automated telephone call every time they use the system to make payment. This means that the merchants are protected against fraudsters who may make the purchase and claim later that they had not approved the payment. As the system requires locally registered mobile numbers, overseas payment is not applicable.
To get started, online sellers need to log on to http://www.buybuttonz.com to register an account. They will then be required to submit their mobile phone number, particulars and bank account details. Subsequently, an HTML code will be presented to the seller and the seller can copy the code and paste it at any HTML website or email for the button to work.
Step by step guide to registering a BuyButtonz
To sell items online using BuyButtonz, users must create an account in advance.
Account registration takes only 3 simple steps:
1. Go to BuyButtonz login screen and click on “Register” button.
2. Specify Referrer ID and mobile number.
3. Filling in business information for the purpose of payment to items sold.
The registration process is described in detail with screen shots below:
Step 1: To subscribe a seller account, click on “Register” button at login screen.
Step 2: Choose a referrer from the dropdown list and key in the mobile number. The mobile phone must be access-able as an activation pin will be sent to the user upon completion of registration.
Read the terms and conditions by clicking “I accept the terms and conditions” link. Tick the checkbox if the terms and conditions are agreeable, and click on “Next” button to proceed.
Step 3: Key in the required information, which is marked with * sign(Mandatory Fields). Review and once confirm, click on “Next” button to proceed. The ID will be shown at registration confirmation page. In a short while, the user will receive a call with an account activation pin.
All new sellers must activate their accounts at their first login, to ensure the correct person is registering the account.
There are 2 steps to proceed, as described below:
Step 1: Login with the login name and password chosen during registration. Click on “Login” button to proceed.
Key in the activation pin given and click on “Activate” button to proceed. The user will be redirected to login screen if activation is successful. If the user has forgotten the pin or has activation problem with the pin, he/she can click on “Forgot/Resend Activation Pin” button to receive the pin again.