The Bank of America GTS’s ePayables Solution, an automated card payment process that shifts accounts payable disbursements to corporate purchasing cards, is now in full production.
BoA said that the ePayables service was designed to replace physical checks with electronic card payments through the global credit card network. ePayables allows organizations to integrate their existing Accounts Payable processes and replace the backend payment with a secure, card payment, eliminating costs associated with paper checks.
We are delighted with the success of this product rollout, said Steve Vaglio, senior vice president, US Product Management. The number of deployments for the new service has far exceeded our targets and has been a great addition to our suite of payment transformation products.