Payments

Bank of America intros global digital disbursements to Canadian customers

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September 15, 2023

Bank of America introduced its Global Digital Disbursements for commercial clients in Canada. This service processes B2C payments and C2B collections using an individual's email address or phone number, according to a press release.

The bank will offer the service via Interact e-Transfer, a money transfer solution from Interact Corp., which offers payments services to more than 300 financial institutions in Canada. The Request for Pay feature will also be available on the platform.

"We are pleased to be the first U.S. bank in Canada to offer both C2B Request for Pay and B2C payment flows through this digital solution," Leslie Konecny, head of product for global transaction services, Canada at Bank of America, said in the release. "This is a milestone for Bank of America in Canada, as we continue to meet the evolving digital needs of our multinational clients, providing them with enhanced speed, flexibility and transparency to manage their payment and receipt flows."