U.S. Bank Becomes First Major Bank to Offer Secure Vault Payments from NACHA

U.S. Bank, the fifth largest bank in the United States, will soon become the first major bank to implement Secure Vault Payments (SVP). "It gives businesses the only online payment option that provides real-time authorization of funds and guaranteed payments for ACH transactions at costs typically lower than traditional and other alternative payment methods."

"Launching Secure Vault Payments allows U.S. Bank to give our business customers a cost-effective, low risk option to accept online payments, while also offering our consumer banking customers one of the safest ways to pay online," said Jeff Jones, executive vice president for treasury management at U.S. Bank.

Glenbrook took a detailed look two years ago at Secure Vault Payments when it first went to pilot.