Mobile Payment Industry News: USA ePay Joins the Secure Vault Payments Network

Thursday, November 18, 2010

USA ePay Joins the Secure Vault Payments Network

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November 16, 2010 02:04 PM Eastern Time

Security of Secure Vault Payments Complements Advanced Fraud Protection Payment Options

LOS ANGELES--(BUSINESS WIRE)--USA ePay announced today they will join the Secure Vault Payments^TM(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”

Secure Vault Payments is a safe and secure online payment network developed by NACHA — The Electronic Payments Association® and eWise, a provider of online payment and personal financial management solutions. Secure Vault Payments is the only online payment system designed specifically for the unique security and convenience requirements of online payments and ecommerce.

“We are very excited to have this new functionality for our Payment Gateway service," says Martin Drake, Vice President of Business Development at USA ePay. “Secure Vault Payments functionality will significantly enhance our offering by enabling merchants more payment options to process transactions more efficiently with reduced risk and liability."

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. Because consumers never share any financial account information, the merchant or biller does not have to secure or store payer account information.

“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. “Knowing the value they place on security and fraud prevention, we are pleased they recognize the enhanced security Secure Vault Payments brings to their payment portfolio.”

Companies interested in joining the Secure Vault Payments network should contact Dean Seifert, Senior Vice President, eWise at svp@ewise.com. Inquiries regarding the NACHA Operating Rulesor Secure Vault Payments business rules should be directed to NACHA.

About USA ePay

Since 1998 USA ePay, a GorCorp Inc. company, has been helping merchants process their credit card and check transactions with speed and security. Founded by the Goretsky brothers, the company is family-owned and based in Los Angeles, CA. Currently the USA ePay gateway supports all of the major platforms (e.g., First Data, TSYS, Global, Paymentech) in the credit card industry and works with some of the leading check platforms. USA ePay is also pleased to work with many of the larger merchant service banks in the U.S. and abroad. For more information, please visitwww.usaepay.com or call 866-USA-EPAY (872-3729).

Secure Vault Payments™ (SVP)

Secure Vault Payments™ enables consumers to initiate private and secure payments for purchases and bill payments through their financial institutions’ online banking platforms, using the ACH Network and eWise’s Online Banking e-Payments technology. Financial institutions authenticate consumers and provide businesses with real-time authorization and confirmation of payment (ACH credit). Secure Vault Payments™ is a trademarked offering of NACHA — The Electronic Payments Association. To learn more, visit http://securevaultpayments.org/.

eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is an online payments and personal financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.

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