Bank of America Merrill Lynch, a player in transaction services, and ModoPayments, a digital payments company, announced Thursday (Oct. 20) a strategic relationship that will give the bank access to Modo’s patented COIN Operated Digital Payments Hub.
In a press release, the companies said, through the hub, Bank of America Merrill Lynch clients will have the ability to connect with multiple emerging payment networks. Furthermore, the new global capabilities can extend the reach of the bank’s existing digital business-to-consumer offering, Digital Disbursements.”
“We’re excited to be working with Modo on a truly differentiated offering that will help provide a gateway for clients to reach their increasingly dispersed consumer and employee population with a diversity of payment options,” said Ather Williams, head of global transaction services at Bank of America Merrill Lynch, in the press release. “This strategic relationship signals our commitment to bring leading-edge payment solutions to our clients around the world.”
Read about it here.