US Bank will offer Secure Vault Payments from NACHA

US Bank, which is the 5th largest in the United States, will become soon the first major bank to implement Secure Vault Payments (SVP). The US Bank says: "It gives businesses 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."

"Launching Secure Vault Payments allows U.S. Bank to give our business customers a cost-effective, low risk option to accept online payments, while also offering our consumer banking customers one of the safest ways to pay online," said Jeff Jones, executive vice president for treasury management at U.S. Bank.