HERNDON, Va. – NACHA, the electronic payments association, this week said it has set the fee structure for its online payments pilot, Secure Vault Payments. The pilot, scheduled to go live in the first quarter of 2008, will allow consumers to initiate private and secure payments for purchases and bill payments through their credit union’s or bank’s online payment platform. During the pilot, participating financial institutions will authenticate consumers and provide real-time payment authorizations for ACH Network transactions to the participating online businesses.
Processing Content
