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Moneta Online Payment Service

Moneta, a new online financial services company, has announced a new alternative to current forms of online payment that enables consumers to "make online payments directly from their checking or money market accounts using only a secure four-digit PIN." The company says that "merchants pay fees up to 50 percent below those charged by credit card companies and other online payment options." On its web site, Moneta lists Aloha Airlines,,, and AirTran Airways as participating merchants.

The unique PIN system means sensitive bank account or debit/credit card numbers are not jeopardized. Moneta will help address consumer concerns regarding identity theft and fraud that may prevent them from making online purchases. Debit is the fastest growing payment method among consumers. As the only payment option available that is truly debit-only, Moneta is a major advancement in ecommerce.

Participating merchants also benefit from Moneta's debit-based system. Merchants pay fees up to 50 percent below those charged by credit card companies and other online payment options. With the Moneta service there are no ancillary fees, chargebacks or credit card transaction fees. Merchants will also be able to leverage Moneta's system to facilitate marketing initiatives.

Moneta's management team is made up of leaders in the financial and ecommerce sectors. Moneta President Hans Zandhuis comes from Bank of America, where he was a Senior Vice President and responsible for their Debit Card division. Co-Founder Daniel Friel has over 18 years' experience in banking, payment processing, security and authentication, and billing. Co- Founder Robert Ball has over 20 years' operating and transactional experience and ecommerce management with fast-growing, high-tech companies. Co-Founder Jeffrey Sechrest is a Managing Director at Lazard Ltd. in New York and brings expertise in investment banking for online retailers, ecommerce, and telecommunications.

Zandhuis sees Moneta as the start of a larger movement. "We see something lacking in the consumer/merchant relationship and believe there is tremendous opportunity in increasing the benefits for both merchants and consumers," says Zandhuis. "First, the process that exists now is unnecessarily costly for both the consumer and the merchant. Second, the consumer needs a simpler and safer way to pay both offline and online. We want to give all consumers another option so that they can get the goods and services they want without worrying about security or falling into debt."

Moneta has established relationships with several major airlines and is currently expanding its position both within the travel industry and among online and traditional merchants. Over the next few months, Moneta will release additional products and services that offer solutions to issues arising from current online and offline purchase methods.

Merchants and consumers can register for Moneta at or by using the payment pages on the sites with which Moneta partners.

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