Certapay, a joint effort of four Canadian banks and MasterCard, is creating a new internet-based payment network.

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Its new Internet-based system will handle price negotiations, delivery and payment as well.

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The slower Bacs payment system - which underlies telephone and internet banking services - has also failed to show any trend of savers shifting their money.

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The Internet-based auction site purchased two online classifieds businesses and the online payment services company Bill Me Later.

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Likewise, for the time being, any increasing revenue seen by using group buying or local commerce websites is also excluded - even when the payment is actually made through the Internet.

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Its arrival, along with several similar businesses, may spell trouble for banks, which have seen online bill-payment as their chance to secure a leading role in Internet commerce.

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The Commission said payment cards were of "crucial importance" for cross-border and internet payments.

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The structure of the charges can vary depending on payment method (by direct debit, pre-payment meter, or credit transfer such as cheque), on whether it is an internet-only tariff, which part of the country the customer lives in, if the deal involves a fixed price, when the deal was launched, how long it lasts, and so on.

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