Payments

Bank of America expands payments to euro

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October 12, 2022

Bank of America's payments solution, Pay by Back, is now available for euro transactions through a partnership with Banked Ltd. The open banking platform requires no credit or debit card details, according to a press release.

Pay By Bank provides more streamlined reconciliation for businesses and reduces customer data storage. Companies can also adjust the user interface based on the market and country.

"Pay by Bank is a great example of how we develop technology with our clients' business models top of mind," Chris Jameson, head of product mManagement, GTS EMEA at Bank of America, said in the release. "For example, the Pay by Bank interface can be adapted by European market location and country which in turn, optimizes the local user experience."

Bank of America will initially provide euro payments in France, Germany and Spain and will add more countries in 2023.