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Secure Vault Payments

Welcome to the News View for "Secure Vault Payments".

Here, on these archive pages, you'll find all of the articles on Payments News for Secure Vault Payments listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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January 10, 2012

Regions Bank Joins the Secure Vault Payments Network

Svp logo 140x60px Secure Vault Payments announced it has added Regions Financial Corporation to the Secure Vault Payments (SVP) Network. Regions will offer the online payment option to customers in 16 states across the South, Midwest and Texas.

“Merchants and consumers alike are increasingly seeking convenient and secure online payment options, particularly for large dollar transactions,” said James Hicks, head of Treasury Services for Regions Financial. “Regions’ participation in Secure Vault Payments will allow us to provide additional payment choices and benefits to our customers.”

Secure Vault Payments is the only online payment method that links consumers directly to their bank account without a middleman. Secure Vault was developed by NACHA — The Electronic Payments Association and eWise, a provider of online and mobile payment solutions.

January 09, 2012

November 08, 2011

September 12, 2011

eLayaway Joins the Secure Vault Payments Network

Svp logo 140pxeLayaway has announced they will join the Secure Vault Payments (SVP) network and offer SVP to their customer network of over 100,000 members in the fourth quarter of 2011.

“We are extremely excited about the opportunity to offer Secure Vault Payments to our growing member network,” said Sergio Pinon, Founder and Chief Marketing Officer of eLayaway. “Their private and secure process complements eLayaway’s continued commitment to providing its members with a safe and reliable way to make their layaway payments.”

August 31, 2011

U.S. Bank First Top Ten Bank to Implement Secure Vault Payments

USBank logo 140pxU.S. Bank has announced the implementation of Secure Vault Payments (SVP), a "new consumer online payment option, for the University of Wisconsin-Stout, Wisconsin's Polytechnic University. UW-Stout students and parents are able to initiate online tuition payments with SVP using a consumer online bank account at U.S. Bank or any Secure Vault Payment-enabled financial institution."

August 17, 2011

August 03, 2011

June 16, 2011

April 12, 2011

March 22, 2011

Secure Vault Payments Expands to Nonprofit Organizations

Svp logo 140pxeWise has announced the availablity of Secure Vault Payments to the nonprofit market at the 48th Annual Association for Fundraising Professionals International Conference.

FamilySearch International has signed a pilot agreement with U.S. Bank to evaluate Secure Vault Payments (SVP) as a secure and convenient online payment option for FamilySearch.org patrons to make online donations.
Secure Vault Payments is an online payment network developed by NACHA and eWise.

March 14, 2011

March 01, 2011

January 20, 2011

December 16, 2010

December 13, 2010

December 02, 2010

Secure Vault Payments Gaining Traction in Southeastern Edu Market for Online Tuition Payments

svp_logo_140px.pngeWise has announced that Auburn University and Columbus State University have joined the University of Georgia in accepting Secure Vault PaymentsTM (SVP) for tuition payments.

“Secure Vault Payments is a great solution for us,” said Lisa McCleary, bursar, University of Georgia. “SVP is a smarter electronic payment option that lowers our risk, allows us to receive money faster, and helps us keep costly and wasteful paper out of our system.” Since implementing SVP, UGA has seen strong utilization rates among enabled students with 17% using SVP to pay their tuition and 48% using SVP more than 5 times.

November 22, 2010

JetPay Extends Secure Vault Payments Offering to Full Client Base

jetpay_logo_140px.png svp_logo_140px.png JetPay has announced that Secure Vault Payments will now be offered to their full client base. As a pilot participant, JetPay was the first eCommerce processor to join the Secure Vault Payments network along with their client, Apple Vacations.

November 17, 2010

USA ePay Joins the Secure Vault Payments Network

usa_epay_logo_60pxh.pngUSA ePay has announced they will join the Secure Vault Payments (SVP) network and offer the new online payment option to their more than 40,000 clients before the end of the year. “Gateways like USA ePay are a critical component to the growth of the Secure Vault Payments network,” said Richard Brierley-Jones, Executive Vice President of eWise.

November 03, 2010

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

USBank_logo-140px.pngU.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.

April 20, 2009

University of Georgia Joins Secure Vault Payment Network

Synovus has announced an agreement with the University of Georgia to launch Secure Vault Payments (SVP) as a new tuition payment option. Synovus said that in 2008 it "became the first bank in the U.S. to offer customers this fast, safe and easy option for making payments online." READ MORE »

August 15, 2008

Secure Vault Payments - A Bank-Centric Alternative Payment System

Glenbrook's Russ Jones recently met with Ken Myles of NACHA to get an update on NACHA's Secure Vault Payments initiative. Read on for Russ' insights and reactions to what he learned. READ MORE »

July 23, 2008

An Interview with Steve Ellis, NACHA Chairman

Glenbrook’s Carol Coye Benson interviewed Steve Ellis, NACHA Chairman, recently about the use of ACH to access consumer checking accounts and NACHA's Secure Vault Payments initiative. Read on for her full report. READ MORE »

July 17, 2008

Glenbrook's Russ Jones at Direct Response Forum 2008 Conference

Glenbrook's Russ Jones will be on hand at this year's Direct Response Forum (DRF) to lead a session on August 12th entitled "What We're Watching in Emerging Payments". Looking beyond the current generation of payment alternatives, Russ will be discussing TrialPay, eBillme, Secure Vault Payments, Amazon Payments, RevolutionCard, eLayaway, PaidByCash, and the Green Dot MoneyPak.

Russ will also be participating in a round table discussion on best practices in recurring payments on August 13th. The DRF 2008 conference is being held in San Diego. The full agenda is available online. If you're going to be at the conference, - he'd love to meet you!

June 16, 2008

Fidelity National Information Services to Offer Secure Vault Payments

NACHA has announced that Fidelity National Information Services (FIS) will offer NACHA’s Secure Vault Payments solution to its clients. FIS will offer Secure Vault Payments to current clients as well as financial institutions without an existing relationship with FIS. READ MORE »

May 19, 2008

Secure Vault Payments Announces New Merchant

Apple Vacations has announced that it will add the Secure Vault Payments (SVP) as an additional payment option for online customers. The Automated Clearing House (ACH)-based Internet payments network allows consumers to conduct e-commerce and bill payment transactions without sharing personal account information. SVP will be available to Apple Vacations' customers this summer. READ MORE »

May 05, 2008

NACHA's Secure Vault Payments Goes Live with First Merchant

NACHA has announced that Secure Vault Payments is now a live alternative payment option. The ACH-based Internet payments network allows consumers to conduct e-commerce and bill payment transactions without sharing personal account information. READ MORE »

March 18, 2008

Metavante Supports NACHA's Secure Vault Payments Solution

Metavante has announced that it will process and settle transactions for NACHA’s Secure Vault Payments, an automated clearing house (ACH)-based Internet payments system that allows consumers to conduct e-commerce and bill payment transactions without sharing personal or account information online.

READ MORE »

January 28, 2008

ACH @ POS

Glenbrook's Carol Coye Benson recently spoke with Elliott McEntee, President and CEO of NACHA about two current payment industry issues - NACHA's reaction to "de-coupled debits" and the progress of the Secure Vault Payments program. She's filed this report on the discussion.

September 12, 2007

NACHA Announces Fees for Secure Vault Payments

NACHA has announced the fee structure for its online payments pilot, Secure Vault Payments (SVP). According to NACHA, "the pilot, scheduled to go live the first quarter of 2008, will enable consumers to initiate private and secure payments for purchases and bill payments through their financial institutions' online banking platforms. During the pilot, participating financial institutions will authenticate consumers and provide real-time payment authorizations for ACH Network transactions to the participating online businesses."

According to our calculations, on a $50 purchase, the fees would be: 1) an authorization fee of $0.675 paid from the merchant's bank to the consumer's bank, a $0.06 switch fee paid by the merchant's bank, another $0.06 switch fee paid by the consumer's bank, a $0.01 network fee paid to NACHA by the merchant's bank and another $0.01 network fee paid to NACHA by the consumer's bank. The total of all the fees here - not including any mark-up by the merchant's bank to the merchant - would be $0.815 or about 1.63% of the purchase amount. Read on for the details of NACHA's announcement.

Update - September 18, 2007: We spoke with NACHA this morning about our calculations above. While the total fees collected from all parties involved on a $50 transaction are the $0.815 shown above, the fees charged to merchants for a Secure Vault Payments transaction would be the authorization fee of $0.675 paid by the merchant's bank, plus the $0.06 switch fee paid by the merchant's bank, plus the $0.01 network fee to NACHA paid by the merchant's bank. Those merchant-side fees total $0.745 on a $50 purchase or about 1.49% of the purchase amount. The merchant's bank will, of course, need to charge additional processing fees to the merchant for providing the Secure Vault Payments service which would be over and above those "wholesale" fees.

READ MORE »

April 17, 2007

NACHA Pilot - Secure Vault Payments

NACHA's credit push initiative has a new name - Secure Vault Payments - and web site. "This model allows the consumer to select an online payment option that will "redirect" them to their trusted bank site that will authenticate them in a multi-factor environment and allow their information to remain private while sending a real-time authorization and a confirmation of payment (ACH credit) to the business." And for banks, "it allows financial institutions to generate additional direct revenue from the online banking channel, offsetting the costs of supporting the channel, which continue to increase – particularly in the areas of authentication and security." For financial institutions, a comprehensive set of technical information is available for download along with a series of FAQs and focus group results from consumers and merchants.

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