Payments News

On The Web

nbsp;

Companies

BofA Data Finds Overall Consumer Spending Continued to Grow in October though at a Slower Pace than Prior Months

“Bank of America Institute released a new publication which shows that discretionary consumer spending per household continued to increase in October, up 2.9% year over year (YoY) but down from 3.2% in September, according to Bank of America (BofA) internal data. Middle- and higher- income households ($50-125k and >$125k, respectively) have replaced lower-income households as the main driver […]
nbsp;

Companies

Bank of America Intelligent Receivables™ Upgraded With AR Forecasting Capabilities And Enhanced Reporting

“Bank of America today announced that it has enhanced its accounts receivables matching solution Bank of America Intelligent Receivables™ with additional reporting and new forecasting capabilities, providing clients with insights based on historical trends and their customers’ behaviors. The bank also announced that it has completed the global roll out of Intelligent Receivables with the […]
nbsp;

Companies

Bank of America Expands Its CashPro® Payment API Capability to Over 350 Payment Types

“Bank of America today announced the launch of an expanded CashPro Payment API through which clients can access more than 350 payment types and bundle payments. The development comes as Application Programming Interfaces (APIs) continue to transform business-to-business (B2B) and business-to-consumer (B2C) transactions given the ability of APIs to provide real-time data, reduce costs and […]
nbsp;

Companies

Bank of America and UK Fintech, Banked Ltd Expand Pay by Bank to Euro Currency Payments

“Bank of America’s innovative online payment solution, Pay by Bank, is now available for euro currency payments. Delivered in conjunction with Banked Ltd., this development follows the UK launch of Pay by Bank in February this year and allows customers of e-commerce companies to pay directly from their bank account. This expansion illustrates how Bank of […]
nbsp; nbsp; nbsp;

Companies

Bank of America Has No Plans to Offer Crypto Services

“Brian T. Moynihan – the CEO of Bank of America – recently confirmed that the company will not be offering crypto-related services in the near future. Though he acknowledged the importance of digital payments in today’s economy, he claimed that regulatory roadblocks prevent the bank from foraying deeper into the industry. Speaking with Yahoo Finance at the […]
nbsp;

Companies

BofA to End Payments Joint Venture With First Data Next June

“Bank of America Corp. said it will end a payments joint venture with First Data Corp. next June when a contract between the two companies expires.    The firms will continue to provide delivery of products and services for existing clients through at least June 2023, but will otherwise pursue independent merchant-services strategies next year, […]

On The Wires

nbsp;

Companies

Bank of America Unveils Redesigned Mobile Banking App

“Bank of America today announced the launch of its newly designed, award-winning mobile banking app that will provide a more seamless and streamlined experience for its approximately 29 million mobile clients. The sleek, modern design makes it even easier to navigate all of Bank of America’s robust mobile banking features. The latest version of the […]
nbsp;

Companies

Bank of America : Merrill Lynch Announces Apple Watch App to Be Integrated Into CashPro®

“Companies use the CashPro platform to manage their everyday treasury and lending needs. CashPro has more than 487,000 active users among the bank’s corporate, commercial, and business banking clients. The CashPro Mobile app’s popularity continues to grow. In the first quarter of 2019, clients used the app to approve more than 300,000 payments, representing over […]