Bank of America offers new feature to let ecommerce customers pay from bank account
Bruce Bennett/Getty Images News Bank of America (NYSE: BAC ) on Monday launched “Pay by Bank” to allow ecommerce customers to pay directly from their bank account.
Introduced in conjunction with Banked Ltd., this new payment solution makes online checkout a simpler process since it does not require credit or debit card details, the bank said.
The feature is currently available in the United Kingdom, the bank noted. Subsequent roll-outs will occur in other countries and regions in the near future.
In mid-January, BofA launched a new way for businesses to manage cash .
How is this different from Zelle which is utilized by Chase it appears to be same style payments eliminating credit card usage including fees & credits gained by buyer/ seller! Will corporate accounts refuse utilize credit cards demand cash transactions direct from bank accounts eliminating float? Zelle has no fees however payments are instant transactions from purchasers bank account!
C
Finally getting to the current year it seems.
I’m honestly amazed that US banks are so far behind in payment technology relying so heavily on cards.Instant from-bank payments are pretty the norm here in the Netherlands and have been for something like 10+ years.
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