Bank of America Merrill Lynch (BofA) has upgraded its expanded its automated clearing house (ACH) payments system CashPro that will allow users to make cross-currency automated clearing house (ACH) payments to 60 countries and in 22 currencies.
The upgrade, which will be accessible through CashPro Payments or CashPro Connect, will allow users to make payments to either individuals or businesses.
BofA head of Global Transaction Services Ather Williams said: “Our enhancement of CashPro with the ACH payments capability is perfectly timed given the exponential growth of global payments around the world. Clients can now process their cross-border payments in a convenient and economical way.
“Through this and other innovations, we strive to maintain our position as the provider of choice for companies with increasingly complex cash management needs.”
BofA head of global cross-currency product Hilani Kerr said: “We are pleased to add this expanded cross-currency payment method to CashPro. These critical enhancements were made in direct response to client demand, and represent another important step in our mission to help break down the barriers for companies to make low-value payments around the world.”
The company added that CashPro users will also be able to access various payments solutions such as wire transfers for urgent and high-value payments, high-volume payments, Digital Disbursements, card solutions and ePayables and receipts management.