Secure Vault Payments is an online payment network developed by NACHA — The Electronic Payments Association and eWise, a provider of online payment and personal financial management solutions.
When a consumer selects Secure Vault Payments to pay online, the consumer is automatically redirected to their own online banking relationship to select which account they will use for payment.
The consumer is then automatically returned to the merchant or biller website to receive payment confirmation. During the transaction flow, financial institutions authenticate consumers and provide businesses with real-time authorization and guaranteed payment.
USA ePay vice president of business development Martin Drake said that the Secure Vault Payments functionality will significantly enhance USA ePay’s offering by enabling merchants more payment options to process transactions more efficiently with reduced risk and liability.
