A fully outsourced, completely developed and managed funding and payment system
for P2P.
The Magex white-label P2P service. White-label templates gave
The Royal Bank brand control, and the ASP business model fit
their need for an outsourced service.
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Pioneered by e-commerce companies such as eBay, the ability to make personal
payments by e-mail between buyers and sellers represents a true step-change
in Internet usage.
The market for P2P payments across the Internet
in Europe has been growing steadily and rapidly from €700 million
in 2002 to an expected €4 billion in 2005.
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The specific challenge for Magex was to create a comprehensive,
outsourced system that required minimal technical management
from The Royal Bank technology team.
At the same time, The Royal Bank needed to retain total control
not just over branding but also look and feel and navigation.
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