Banks are also becoming very active in this area, if only for self preservation. The demand for e-commerce payment facilitation is great, yet many institutions have been hesitant to participate because of security concerns.
Consider, for example, the global banking network Identrus. Incorporated in early 1999 by eight of the world's largest banks, one of its initial goals was to provide a way for companies to make sure their online business contacts were truly who they presented themselves to be. Speedy facilitation of payment was important, too, but of a secondary concern.