Merrick Bank Press Release

Merrick Bank Joins the Secure Vault Payments Network

Nation's 35th Largest ACH Originator and Top Merchant Acquirer

South Jordan, UT, May 5th, 2011

Merrick Bank announced today they will join the Secure Vault Payments (SVP) network as a Merchant Financial Institution and offer SVP to their ISOs and related merchants.

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 & personal financial management solutions.

"We are excited to be part of the SVP network," said Merrick's President, Richard Urrutia. "Membership will allow us to sponsor our ISOs and merchants, and allow them to offer this new and exciting payment alternative to consumers nationwide."

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

NACHA now has 45 direct members, consisting of 27 financial institutions and 18 regional payment associations (RPAs). Collectively this group represents more than 11,000 depository financial institutions.

"We are pleased to announce Merrick as a valuable addition to the SVP network," said eWise CEO Alex Grinberg. "With their expertise and reach in the ISO community, they will be able to bring the SVP payment option to thousands of merchants and consumers."

Companies interested in joining the SVP network should contact Dean Seifert, senior vice president, eWise at svp@ewise.com. Inquiries regarding the NACHA Operating Rules or SVP business rules should be directed to NACHA.


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