Payments News

On The Web

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Companies

Amazon teams with Bank of America for lendtech leap

“Amazon Lending is invitation-only and makes loans of $1,000 to $750,000, with terms of up to a year, for firms that may find it difficult getting traditional business loans. Quite a common ploy in the fintech world. In June 2017, Amazon said it issued more than $1 billion in loans during the previous 12-month period, […]
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Companies

Eye on Restaurants: BAMS Caters to Full-Service Restaurants; CardFree Launches Pay-At-Table

“Payments provider Bank of America Merchant Services announced it and talech, developer of a cloud-based point-of-sale system that uses Apple Inc. iPads, are going after full-service restaurant and bar owners. Announced Tuesday, the deal will see BAMS, which is a merchant-acquiring alliance between First Data Corp. and Bank of America Corp., sell talech systems to its merchants.”
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Companies

BofA Trumpets Success With Erica, Zelle

“Bank of America has announced that Erica, its artificial intelligence-driven virtual financial assistant, now has more than 2 million users. According to a press release, this is more than double the number of customers using the technology less than a month ago. And that’s not BofA’s only recent mobile milestone: The number active users of the Zelle person-to-person payment […]

On The Wires

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Companies

Bank of America Delivers First Widely Available AI–Driven Virtual Financial Assistant

“Bank of America is rolling out the first widely available AI-driven virtual assistant of its kind in financial services, Erica, to its 25 million mobile clients. This latest innovation reflects the bank’s continued investment in digital capabilities as part of its high-tech, high-touch client experience, including the Digital Mortgage Experience, mobile car shopping tool, Merrill Edge Guided Investing, and Business […]