What is Net Account?
How does Net Account work?
Do I have to sign up to use Net Account?
How much does it cost to use Net Account?
Do I need to use a credit card account for Net Account?
Why is Net Account more secure than using a credit card to pay for a transaction?
What is the Net Account "Triple Signature"?
How do I pay for purchases I make using Net Account?
How do I set up sub-accounts and how do I track them?
Why would merchants offer Net Account as a payment option instead of credit cards?
Is Net Account only applicable for payment transactions?

What is Net Account?
Net Account was built for the Internet as a secure, online purchasing solution that lets you buy online without sending your personal or financial information over the Internet.   It is not a credit card, nor does it rely on credit card numbers, which can be easily lost or stolen. Rather, Net Account is a completely new purchasing solution designed to address the unique security issues of the Internet.   We use proprietary security technology that ensures that fraud can't occur and since credit card or other financial account numbers are not used, you won't have to worry about your credit card number being stolen. What's more, your identity and payment information stays off the Internet.

How does Net Account work?
To prevent fraud and theft, Net Account uses a combination of digital certificates and proprietary encryption technology to verify and authenticate both you and the participating retailer ensuring a valid transaction.   Because your personal digital certificate resides on your own computer, instead of the Internet, the risk of someone accessing your financial information is virtually non-existent.   What's more, we safeguard your identity and payment information by keeping it off the Internet.   You submit your personal information just once, during the application process, over our secure server using the highest level of encryption legally available.   For added security, we utilize complex pass-phrases instead of simple passwords, for a level of protection that no one else offers.

Security & Convenience at a Glance

•  Guaranteed Security

•  Digital certificates, not credit card numbers

•  Keeps personal information off of the Internet

•  Supports credit, debit and pre-pay account options

•  Credit approval in minutes

•  Begin shopping immediately

•  View and manage your statements online

•  Payments made electronically

Who would have thought that shopping online could be this convenient? With the Net Account there is no need to enter personal identity or payment information with every purchase, no awkward card reader, and no waiting for account activation. To make a purchase you just type your pass-phrase and authorize the amount of the purchase.

Flexible Payment Options
Net Account supports credit, debit and a prepay payment options. With the credit option you can be approved for a line of credit and begin shopping within minutes. Payments to your account are made electronically every month, and can be transferred directly from your bank account. Or, if you prefer our prepay option, you simply pay as you go. Just add funds in advance and we'll automatically deduct the total of your purchases from your balance.

Easy Purchase Tracking
With Net Account, you can review your account activity online via your secure Personal Account Center. Your records are available 24 hours a day and are updated in real-time. We'll send you an email when your current statement becomes available, as well as provide instant online access to up to twelve months of past statements. Only Net Account offers this kind of convenience.

Online Account Management
Keeping your Net Account purchases organized couldn't be easier. Net Account provides   each primary account holder the ability to add Sub Accounts. For example, consumer households can set-up and assign these accounts to other family members or to various budget categories. You can set spending limits by Sub Account, by transaction, or by billing cycle. If children will be using the Sub Accounts we also offer the ability to restrict purchasing from certain types of web sites.   Businesses can assign accounts to better control and manage company divisions, subsidiaries, revenue and expense categories, employee travel accounts, etc.

Do I have to sign up to use Net Account?
Yes, Net Account will be offered by leading financial institutions.   During the application process, you will proceed to a secure website address and asked to submit selected personal and financial information just once over our secure server using the highest level of encryption legally available.   For added security, we utilize complex Pass-Phrases instead of simple passwords, for a level of protection that no one else offers.

Additionally, you may receive a special offer from your financial institution indicating that your account has been selected for an online upgrade.   At which point, you will be invited to simply activate on the financial institution's secure website.   Upon completion, your digital signature, your digital ID credentials will be downloaded to your designated Internet computing device.  

How much does it cost to use Net Account?
Net Account is competitive priced with other financial service products offered by your financial institution.

Do I need to use a credit card account for Net Account?
The choice is yours.   Net Account security and identity management can work with virtually any financial debit, credit or prepaid account offered by your financial institution.

Why is Net Account more secure than using a credit card to pay for a transaction?
Net Account uses a combination of digital certificates and p roprietary encryption technology to prevent fraud and theft. Because your personal digital certificate resides on your own computer, instead of the Internet, the risk of someone accessing your financial information like your credit card or other bank account information is virtually non-existent. What's more, we safeguard your payment information by keeping it off the Internet. You submit your personal information just once, during the application process, over our secure server using the highest level of encryption legally available. For added security, we utilize complex Pass-Phrases instead of simple passwords, for a level of protection that no one else offers.

What is the Net Account "Triple Signature"?
Triple Signature represents the three digital signatures of the "Seller/Merchant" the "Buyer/Consumer" and the "Your Net Account Financial Institution" who have entered into an online financial transaction.   For every transaction that you initiate, your Net Account performs an online verification of your financial institution, the online seller/merchant and your digital identities as well as it authenticates your account management controls and available financial balances and/or line of credit required to complete the payment transaction.   The final confirmation represents an online digital contract between the parties that each will upon their intended obligations to one another.  

How do I pay for purchases I make using Net Account?
Payment for purchases made using Net Account will be online using existing market ready bill payment applications offered by your financial institution.   Typically this is completed using an ACH (automated clearing house) payment, but could also include an internal bank transfer, over-the-counter payment, check or wire transfer.

How do I set up sub-accounts and how do I track them?
Net Account users will able to add, modify or delete customer and account profiles.   Sub-accounts can be added under the master account.   Extensive information reporting enables individual sub-account holders to verify and inquire transactions.   The master account user has the ability to view and maintain all activity on a sub-account level or as in a roll-up view for all related sub-accounts.

Why would merchants offer Net Account as a payment option instead of credit cards?
With the high cost of online ID theft and fraud, merchants will realize a substantial reduction in exception processing (credit card chargebacks) and qualify for lower merchant processing fees by offering customers to utilize a more secure fraud-free payment option.   Today, merchants are getting hit with the highest credit card fees because of what the credit card companies refer to as "card not present" transactions over the Internet.   The unique Net Account security will provide the right solution at the right time for online merchants.

Is Net Account only applicable for payment transactions?
The same unique security features of the Net Account developed to satisfy the strict identity and security needs to move money can also be applied to other industries such as healthcare, government services, military and the like.   The open platform provides the basis to define and integrate a number of other business applications and security protocols.   For example, the high security features Net Account are HIPAA compliant to support a growing demand to maintain patient record confidentiality in healthcare.