Payments

Bank of America expands CashPro to support 350+ payment types

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October 18, 2022

Bank of America has expanded its CashPro Payment API to allow customers to access more than 350 payment types in 38 global markets, according to a press release.

With the API, customers can access real-time data, as well as reduce costs and improve efficiencies. Features include:

• Access to seven real-time payment services such as Zelle.
• Domestic and cross-border wire transfers.
• Local payment instrument support such as Brazil Boletos.
• Can execute payments in bundles.

"Through our single payment API, clients can disburse payments to hundreds of countries and get real-time data and information, helping to increase their business efficiency and competitive edge," Stephanie Wolf, head of global financial institutions, governments, business banking sales, and risk in GTS at Bank of America, said in the release. "Our API can be a bridge between an insurer's system and the policyholder, disbursing funds digitally, and instantly provide access to funds following a claim, without the need to use checks."