Bank of America Launches Recipient Select For Corporate Payments

October 12, 2021 4:18 PM | 1 min read | Make a Comment

Bank of America Corp BAC launched Recipient Select to help companies with frequent payments to consumers to offer their beneficiaries multiple payment options.
The solution addresses complexities that companies grapple with related to the growth of business-to-consumer payments.
Recipient Select currently supports six payment methods to U.S. consumers, including Zelle, PayPal Holdings Inc PYPL, ACH, and Check.
Recipients can receive their funds via PayPal, cross-currency ACH, or cross-border wire for international consumer payments.
Future enhancements will include the addition of new payout methods.
Price Action: BAC shares closed lower by 0.55% at $43.54 on Tuesday.

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