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UseMyServices, Inc.
Type Corporation
Founded July, 2002
Headquarters Toronto, Ontario, Canada[1]
Area served Worldwide
Founder(s) Joseph Iuso
Key people Joseph Iuso, CEO
Melody Wigdahl, VP Sales & Marketing
Available in Multilingual

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. [2][3]


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.[4]

UseMyBank was featured twice on CBC’s Dragons' Den in 2009[5] and 2010[6][7] 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[8] by Rogers Wireless and an appearance by company representatives as keynote speakers at Canada 3.0.[9][10][11]

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.[12]

In 2010, UseMyServices rolled out its UseMyWidget and UseMyBiller customizable payment interfaces.[13]

UseMyServices also has a prepaid voucher service called UseMyCard[14][15] where customers can purchase 3V Visa and Ukash vouchers through UseMyFunds. is an authorized Interac Online merchant through Debitway.[16] 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.[17]

Lastly, UseMyServices offers UseMyData, a way for merchants to validate their customer’s bank transactions for fraud screening purposes.[17]


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.[18] A tribunal rejected UseMyBank’s claims under the Competition Act.[19] UseMyBank has since registered with FINTRAC as a money service business in Canada.[20]

See also[edit]


  1. ^ "Canadian Company Capabilities". Industry Canada. Retrieved 26 January 2014. 
  2. ^ "Debit Grows Up in Canada". Greensheet. Retrieved 26 January 2014. 
  3. ^ "Back to the Future With Cash Payment Options". Greensheet. Retrieved 26 January 2014. 
  4. ^ "Opening Statement before the House of Commons Standing Committee on Finance". Bank of Canada. Retrieved 26 January 2014. 
  5. ^ "UseMyBank". CBC News. Retrieved 26 January 2014. 
  6. ^ "Use My Bank". CBC News. Retrieved 26 January 2014. 
  7. ^ "They snubbed the Dragons' Den". The Globe and Mail. Retrieved 26 January 2014. 
  8. ^ "UseMyServices Named Business Innovators By Rogers Wireless". YouTube. Retrieved 26 January 2014. 
  9. ^ "Canada 3.0 - 2010 - Interview with Brian Crozier & Joseph Iuso". YouTube. Retrieved 26 January 2014. 
  10. ^ "Daily Bulletin". UWaterloo. Retrieved 26 January 2014. 
  11. ^ "Start-ups Face Off at Canada 3.0 2010 Entrepreneurial Showcase". CNW Group. Retrieved 26 January 2014. 
  12. ^ "In 2002, we launched with our flagship product: UseMyFunds, a revolutionary new way to shop online!". Retrieved 26 January 2014. 
  13. ^ "UseMyServices rolls out SaaS payment services". The Paypers. Retrieved 26 January 2014. 
  14. ^ "Vendtek, UseMyServices to issue prepaid 3V Visa and Ukash vouchers". The Paypers. Retrieved 26 January 2014. 
  15. ^ "urchase your prepaid vouchers here! With 3V Visa or Ukash you can shop online without a credit card". Retrieved 26 January 2014. 
  16. ^ "Merchant Information". DebitWay. Retrieved 26 January 2014. 
  17. ^ a b "introducing a new weapon in the fight against fraud…..". Retrieved 26 January 2014. 
  18. ^ "UseMyBank slams competing bank 'bully-boy' tactics". Finextra. Retrieved 26 January 2014. 
  19. ^ "The new "refusal to deal": Tribunal rejects GPAY claim". Stikeman Elliott. Retrieved 26 January 2014. 
  20. ^ "MSB Details". Financial Transactions and Reports Analysis Centre of Canada. Retrieved 26 January 2014.