General Questions | Technical Questions | Security Questions

Is there a fee to join the pilot?
No, there is no participation fee however the appropriate resources must be allocated for implementation requirements. These requirements will vary by stakeholder.

Will there be fees collected for the pilot?
Yes, interchange fees and a network fee will be collected for the pilot. The pilot will serve to test the fee structure and evaluate fee levels relative to adoption.

When will the pilot begin and how long will it run?
It is anticipated that the pilot will begin in early 2008. The pilot will then run for 12-18 months. Additional participants will be accepted into the pilot during this run time.

What does the 'closed loop' of network participants mean?
In order to maintain network integrity, this payment method mandates a closed network between known participants. Network participants must complete an enrollment process in order to send, receive or offer Secure Vault Payments transactions. Enrollment for each participant is agreement driven and requires oversight from the pilot governing body.

What is required for a business to participate in the pilot?
All businesses and state government agencies that wish to sign up for the pilot must be sponsored by a receiving financial institution that will accept these ACH Credit transactions and warranty their performance.

What are the responsibilities of the sponsoring RDFI?
The sponsoring RDFI must agree to a) receive ACH Credit transactions on behalf of their business customer b) abide by the pilot business rules for these types of transactions c) warranty the business performance of their business customer.

How will dispute resolution be handled in the pilot?
Secure Vault Payments supports non performance payment disputes.

How will cases of outright business/seller fraud be handled for the pilot?
A consumer claiming seller fraud will take the case to their originating FI to initiate the WASSUP process. Remediation would occur by the consumer's ODFI initiating an ACH Debit against the business' receiving bank.