Bank of America launches Recipient Select for B2C payouts

Bank of America is rolling out a new business-to-consumer payments portal that enables recipients of payouts to select their preferred method of payment.

Called Choice of Acceptance, the service addresses issues facing companies in terms of business growth for the customer, including increasing customer choice options and increasing customer service expectations. Fast and flawless.

Technology has made a huge difference to pay, especially in our lifetime where our expectations for slower growth are growing every day,” said Derrick Walton, head of Payments at Global Transaction Services (GTS) and Bank of America.

Select Brokers now supports six payment methods for US clients, including options like Zelle, PayPal, ACH, and Check. For payment to overseas customers, recipients can choose to receive their money through PayPal, ACH cross-money, or wire cross-border.

The bank says future improvements will include an increase in new payment methods.

“American banks pay billions of dollars every day. “We are always aware of the value of the contribution of paid information to build trust and kindness among others,” said Fernando Iraola, head of GTS Head of Corporate Business and head of GTS Latin America customer relationships. ”

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