DENVER--(BUSINESS WIRE)--Secure Vault Payments today announced it has added Regions Financial Corporation (NYSE:RF) to the Secure Vault Payments Network. Regions will offer the online payment option to customers in 16 states across the South, Midwest and Texas.
Secure Vault Payments is the only online payment method that links consumers directly to their bank account without a middleman. Secure Vault was developed by NACHA — The Electronic Payments Association® and eWise, a provider of online and mobile payment solutions.
“Merchants and consumers alike are increasingly seeking convenient and secure online payment options, particularly for large dollar transactions,” said James Hicks, head of Treasury Services for Regions Financial. “Regions’ participation in Secure Vault Payments will allow us to provide additional payment choices and benefits to our customers.”
Secure Vault Payments is a payment system designed specifically for banking customers; whether they are merchants, billers or consumers. Through this simple payment option, consumers select their bank, log into their bank’s online service from the merchant or biller checkout page, select the bank account they want to use to pay, and confirm payment. The only people involved in the payment process are the consumer and their bank. Consumers make their payment without ever having to enroll, register or share any financial account information with the merchant or biller.
Merchants and billers get guaranteed good funds at a significantly lower cost than traditional and alternative payments methods.
“We are very pleased to welcome Regions Bank to the network,” said Alexandre Gonthier, CEO, eWise. “The addition of another top 10 bank to the network attests to growing consumer and market demand for Secure Vault Payments. Regions Bank stays true to their position as a market leader by offering this innovative, safe and convenient payment option to both consumer and commercial clients.”
Companies interested in joining the Secure Vault Payments network should contact eWise at svp@ewise.com.
About Regions Financial Corporation
Regions Financial Corporation, with $130 billion in assets, is a member of the S&P 500 Index and is one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,800 banking offices and over 2,100 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at http://www.regions.com.
About eWise Payments
eWise is the exclusive provider of Secure Vault Payments. Secure Vault Payments allows any consumer to pay online for goods or services directly with their bank account without creating a new account or sharing any financial information with merchants or third-party payment companies. Secure Vault offers merchants a low-cost, real-time guaranty of good funds payment method. Secure Vault Payments is a registered trademark of NACHA, the National Automated Clearinghouse Association. For more information, visit www.ewisepayments.com.