SAN FRANCISCO — ChargeSmart LLC, a provider of online payment solutions to the financial and mortgage industries, recently reported that payments for automotive loans and leases are the most prominent transaction since the company launched its online service this past July.

With a network of more than 4,000 billers, ChargeSmart's comprehensive Web-based payment application allows consumers with a major credit card to make payments to companies in four different industries, including for auto loans and leases, home mortgages, education loans and utility companies.

Current usage trends gathered by the company indicate that a high percentage of consumers are paying auto loans using its service and are scheduling future autotransactions up to a year in advance using ChargeSmart's AutoPay feature.

ChargeSmart said it follows Payment Card Industry Data Security Standards, including the use of High-grade AES 256-bit SSL encryption, an industry standard technique, to safeguard consumers' private information that is transmitted via the Internet.

"We believe that consumers are taking advantage of the service for their car payments not only because of the credit card rewards they earn, but also the added convenience of being able to set up monthly payments, not to mention a useful cash management tool," explained Philip Mikal, chief operating officer of ChargeSmart.

"And because of the lack of payment options, particularly within the auto industry, consumers are finding the service exceptionally helpful," he added.

Basically, ChargeSmart customers submit payments directly to ChargeSmart and indicate the amount they wish to pay and the recipient. The system then securely accepts, processes and remits payments electronically, ensuring every step from the customer to the payee is accounted for and traceable.

Additionally, the company's easy-to-use interface enables customers to gain reward points or miles from their card issuer.

Mikal added, "Transaction volume increases every day, and customers can have the confidence that we have taken the utmost precautions to ensure that their data is protected. Additionally, we promote responsible credit use with individuals who use our solution. It may not be the perfect fit for everyone; however, our research has shown that individuals want efficient payment options, and ChargeSmart provides one."

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