Bank of America Merrill Lynch continues its strategy to introduce more speed and convenience into the corporate payment market through the rollout of Digital Disbursements. The offering expands the Bank’s partnership with clearXchange to provide corporateclients with the ability to disburse payments to customers using mobile and email channels. According to Ather Williams III, head of Global Payments in Global Transaction Services, among the targeted B-to-C payment types for Digital Disbursements are rebates,refunds and claims payments.
“Digital Disbursements represents a logical and needed offering into the B-to-C market place according to Rick Hall (title). Lower dollar, higher volume disbursements represent a significant level of operational cost and inefficiency for corporates. Customeradoption will be important so that corporates are truly able reduce their check disbursements and don’t just end up having to manage another payment channel with their bank partner.”
Overview by Rick Hall, Director Commercial and Enterprise Payments Advisory Service for Mercator Advisory Group
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