April 11, 2011 08:04 AM Eastern Daylight Time
Recognition Demonstrates Value of Online Banking ePayments Among Educational Institutions
DENVER--(BUSINESS WIRE)--eWise, a payments and online financial management solutions provider, today announced that the University of Georgia (UGA) has received recognition for its implementation of Secure Vault Payments® as a finalist for the Southern Association of College and University Business Officers (SACUBO) 2010 Best Practices award. Winners will be announced this week at the SACUBO Annual Meeting, April 10-12 in Lake Buena Vista, FL.“This recognition demonstrates the value of Online Banking ePayments like Secure Vault Payments among educational institutions to simply payment options for their students”
eWise is partnering with NACHA - The Electronic Payments Association, to provide the Secure Vault Payments network linking consumers, financial institutions, merchants and billers, providing value to all stakeholders in the payment chain. It gives universities and other organizations 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.
“Secure Vault Payments 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,” said Lisa McCleary, bursar, University of Georgia. “We are honored to be named a finalist for this award.”
Since implementing Secure Vault Payments, UGA has seen strong utilization rates among enabled students with 17 percent using Secure Vault Payments to pay their tuition and 48 percent using SVP more than five times.
“This recognition demonstrates the value of Online Banking ePayments like Secure Vault Payments among educational institutions to simply payment options for their students,” said Alex Grinberg, CEO, eWise. “We are seeing increased interest from universities that are looking to streamline the process for online tuition payments.”
As a result of being a finalist, McCleary will present at the SACUBO Annual Meeting explaining why they chose to deploy Secure Vault Payments, the benefits of the solution and how other schools can achieve the same success.
The University of Georgia was also recognized by the University of Georgia Regents with the Silver Award for Improvement Initiative last year for its use of Secure Vault Payments.
About Secure Vault Payments
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 ePayments 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 www.securevaultpayments.com.
About 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 a payments and online 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.
