BofA Launches Global Digital Disbursements in Canada via Interac e-Transfer
TORONTO, Aug. 29, 2023 /PRNewswire/ -- Bank of America is announcing the launch of its award-winning, alias solution, Global Digital Disbursements to its commercial clients holding deposit accounts at the bank's branch in Canada. Global Digital Disbursements facilitates the processing of multiple B2C payments and C2B collections where the identifier is the person's email address or mobile phone number. The solution is both a cost efficient and customer-friendly payments option for companies wanting to replace cash or cheque payments.
- Global Digital Disbursements facilitates the processing of multiple B2C payments and C2B collections where the identifier is the person's email address or mobile phone number.
- The use case for Global Digital Disbursements varies by industry and includes insurance companies that leverage its speed to make claim settlements.
- Canada is the first market where the "Request for Pay" feature will also be available with Global Digital Disbursements.
- "The launch of Global Digital Disbursements in Canada follows the bank's 75th anniversary in the country," said Maureen Jarvis, head of GTS Canada at Bank of America.