eLayaway Joins the Secure Vault Payments Network

DENVER--(BUSINESS WIRE)--eLayaway®, Inc. (OTCBB:ELAY), announced today they will join the Secure Vault Payments® (SVP) network and offer SVP to their customer network of over 100,000 members in the fourth quarter of 2011.

“eLayaway joins a growing list of financial service providers that want to boost their offerings by connecting to the Secure Vault Payments network”

Secure Vault Payments is a safe, secure and private online payment network developed by NACHA — The Electronic Payments Association® and eWise, a provider of online payment and personal financial management solutions.

“We are extremely excited about the opportunity to offer Secure Vault Payments to our growing member network,” said Sergio Pinon, Founder and Chief Marketing Officer of eLayaway. “Their private and secure process complements eLayaway’s continued commitment to providing its members with a safe and reliable way to make their layaway payments.”

Secure Vault Payments is the only online payment system designed specifically for the unique security and convenience requirements of online payments and ecommerce. Secure Vault Payments brings value to consumers, financial institutions, merchants and billers in a closed loop payment chain.

• For consumers, Secure Vault Payments is an easy, fast and secure way to make payments or shop online by leveraging their current online banking accounts to make immediate payments without enrolling, registering or sharing any account information.
• For merchants and billers, Secure Vault Payments provides real-time authorization with guaranteed payment of ACH transactions at costs typically more cost-effective than existing solutions while lowering risk.
• For financial institutions, Secure Vault Payments provides an added measure of consumer protection, encourages the use of online banking and adds a new revenue stream while leveraging the bank’s existing online banking infrastructure.

“eLayaway joins a growing list of financial service providers that want to boost their offerings by connecting to the Secure Vault Payments network,” said Richard Brierley-Jones, Executive Vice President of eWise. “The power of SVP gives eLayaway’s merchants an alternative payment method that is authenticated in real-time and is safe and secure for their end customers.”

About eLayaway®

eLayaway is an online payment system that allows consumers to pay for the products and services they desire using manageable periodic payments, thereby making purchases affordable and easy to budget. Like traditional layaway programs of the past, delivery of the product or service occurs once payment is complete. Payment processing and supporting services are handled by eLayaway while merchants provide order fulfillment.

For many online merchants, eLayaway offers an opportunity to provide layaway to their customers as a means to expand market share while reducing the administrative requirements of traditional layaway. Merchants are now turning to payment alternatives such as eLayaway in order to take advantage of opportunities that increase sales and profits. Today, approximately one-half of all consumers do not qualify for credit. eLayaway provides an alternative payment method that allows these consumers to make the purchases they desire while enabling merchants to sell additional products on an immediate basis.

In addition to eLayaway.com, the Company also owns and operates eLayawaySPORTS.com, eLayawayTRAVEL.com and eLayawayHEALTH.com. eLayaway, Inc. was founded in 2005.

Press summary, logos and screenshots available for download at: eLayaway.com/press.

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 registered trademark of NACHA — The Electronic Payments Association. To learn more, visit www.ewise.com/svp.

About eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology. 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 consumers worldwide. For more information, visit www.ewise.com/svp.