The newly launched service features a series of capabilities including:• Payment control by authorizing payments for a specific amount;• Push payments enable clients to automate supplier payments by disbursing the funds directly to a suppliers account;• Clients can automate communication of card accounts knowing that their information is protected. This feature both accelerates a companys conversion to card and increases the volume of electronic payments.
With more than 1,000 clients making payments to more than 56,000 vendors, ePayables leverages the banks Active Card Control technology, allowing clients to manage available funds in order to reduce risk and increase control.
The exact auth override is set to become available to clients starting mid-July 2012. Bank of America provides individual consumers, small and medium sized-market businesses and large corporations with range of banking, investing, asset management and other financial and risk management products and services.
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