Bank of America partners Modo to access COIN

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.

Since its introduction in 2014, many companies have adopted the bank’s Digital Disbursements solution in response to customer and employee demands for more flexibility and timeliness in receiving payments. With access to Modo’s COIN Operated Digital Payments Hub, companies may be able to reach new populations around the world in a cost-effective manner, an increasingly critical consideration as commerce crosses borders continues to grow. Additionally, collaborating with Modo will allow Bank of America Merrill Lynch to rapidly explore additional areas of innovation in transaction services.

ModoPayments, or just Modo, was founded in Dallas in 2010, and provides a COIN operated Digital Payments Hub that connects new digital experiences to payments systems worldwide. Modo’s patented COIN transaction takes monetary value from just about any source, and can deliver it to just about any destination, without requiring partners to modify their systems.