Jwaala Partners eWise to Integrate Secure Vault Payments Solution
- Payment service providers Jwaala and eWise have just partnered for the integration of SVP on Jwaala’s e-payment platform. This solution has been developed by eWise and US-based e-payment association NACHA.
- SVP enables the Internet user to validate his payment transaction through authenticating on their e-banking portal.
- This new partnership allows Jwaala to propose an alternative e-payment solution to its client financial institutions (Mountain America Credit Union).
- Further developments will concern the setting up of a mobile version of SVP.
- SVP has now been adopted by about 48 US institutions. This partnership will allow it to widen its acceptance network and capture a larger number of Internet surfers, including those hostile to paying online as they are aware of the incurred risks. Also, the user is familiar with the interface (his e-banking portal) and deems it trustworthy. This solution could also secure the most vulnerable online transactions.
- According to a study conducted by Javelin, 7% of the US respondents claim they haven’t purchased any item online these past 12 month; 21% feared their banking data could be used by fraudsters.