Bank of America Partners with Digital Payments Firm Modo

American Banker

Bank of America has entered into a strategic partnership with digital payments firm ModoPayments that will give the bank access to Modo’s digital payments hub.

The Dallas-based firm’s payments hub, known as COIN, is designed to power digital payments from any two sources without either party having to modify their payments systems, according to a press release issued by B of A on Thursday. The bank’s clients will have the ability to use the payments hub to connect with multiple emerging payment networks in order to reach new populations around the world “in a cost-effective manner, an increasingly critical consideration as commerce crosses borders and the ‘gig economy’…continues to grow.”.

Read about it here.

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