Bank of America Merrill Lynch today announced the launch of Digital Disbursements, a new payment solution that enables companies to make payments to their customers digitally, eliminating the need to issue a check. The payments are directly routed to the bank account of the individual payee’s choosing using either a mobile phone number or email address as the identifier. The solution leverages the technology behind person-to-person payments, a capability currently available to individual customers of Bank of America’s consumer business.
BofA Merrill Introduces Digital Disbursements | Bank of America Newsroom
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