Secure Vault Payment, the ACH-based, good funds payment network developed by NACHA and eWise, is expanding acceptance into multiple payment segments. This announcement speaks to SVP being used to facilitate payments to the non-profit market.
SVP is an online payment scheme that offers an important product differentiator in its ability to guarantee funds to the merchant without an additional requirement to maintain payment credentials. These two product components can make the product more attractive to under-penetrated merchant segments.
eWise today announced the entry 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.