vastnavigator.blogg.se - Bank of america online

We are proud to launch Pay by Bank and continue supporting clients with tools that can have a positive impact on their business," said Andrew McKibben, International head of Technology & Operations at Bank of America. "The breadth and scale of our technology development comes from sustained strategic investment. Cost effective –avoids card processing fees.Security – leverages the customer's bank authentication network.Straightforward connectivity – easy to set up by connecting it to a company's existing treasury system using APIs.

Streamlined reconciliation – incoming payments are added to a company's receivables, so they can view everything together in one place.

Reduction of customer data storage – since a card is not required and it is an online 'account to account' payment, companies do not need to obtain and store customer card data.

"The solution will support clients with creating a better experience for their own customers and help set them apart from their competitors." "The launch of Pay by Bank is part of our continual cycle of technology investment that helps us to keep clients at the cutting edge," said Matthew Davies, co-head of Global Corporate GTS Sales and head of GTS EMEA at Bank of America.

The customer is returned to the checkout page and the transaction is complete.

Once authenticated, the payment is sent directly from the customer's bank to the company's account.

To authenticate payment, they simply validate using their existing login credentials through their online banking platform.

They select the "Pay by Bank" payment option and then their own personal bank from the menu.

A customer adds an item to their online shopping cart and proceeds to the checkout page.