BofA Unveils Virtual Payables Solution to Support the Booming B2B Market

"Virtual Payables Direct offers our clients in EMEA greater flexibility as they can make card payments to any supplier in the region, regardless of whether the supplier typically accepts card payments," said Chris Jameson, head of Product Management for Global Payments Solutions (GPS) EMEA. "The payments are made much earlier in the procurement cycle, thereby helping to improve important supplier relationships and allowing the buyer to take advantage of any prompt payment discounts." "Virtual...

LONDON, 02/10/2024 (informazione.it - comunicati stampa - servizi)

 said .

Watch video message from Chris Jameson .

A key advantage of Virtual Payables Direct is that it helps businesses manage working capital, one of the top priorities for corporate treasurers which has been brought to the fore over the past year. The solution provides greater flexibility for buyers as it allows for large, one-off or last-minute payments. Suppliers can also receive a fast payment through a bank transfer. These benefits allow all parties to manage their cashflow more effectively and enable greater operational efficiency.

 said .

The rollout of Virtual Payables Direct in EMEA will continue in 2025, with the addition of product enhancements and expansion to other regions.

Visit the bank's website for more information about the bank's Card and Comprehensive Payables  solutions.

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States , serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States , its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts .

Megan Pearson , Bank of America   
Phone: +44.20.7995.6977
megan.n.pearson@bofa.com  

 

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