Digital Banking
Bank of America intros online payment solution
February 28, 2022
Bank of America recently launched its Pay by Bank online payment solution in conjunction with Banked Ltd. With this service, customers can pay e-commerce companies directly from their bank account with no credit or debit card details required, according to a press release.
Customers can add an item to their shopping cart then select Pay by Bank. They will then be directly to a login page, where they can enter their bank login information to finish the payment. The service will be initially available in the U.K.
"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," Matthew Davies, co-head of global corporate GTS Sales and head of GTS EMEA at Bank of America, said in the release. "The solution will support clients with creating a better experience for their own customers and help set them apart from their competitors."
