U.S. Bank Reveals Two New Groundbreaking Digital Payment Solutions

10:40 11/01/2017

The 7th largest bank in the United States, USB  announced two new digital payment solutions that make it easier for corporate and commercial banking clients to transition from paper to electronic payments.

The solutions Disbursements via Zelle and Supplier Prefer Pay reduce the time and threat in the process of soliciting, storing and preserving banking information for individual and business customers.

Disbursements via Zelle allows companies to make electronic payments to individuals using only a phone number or email address that reduces the time it takes to make payments. USB  uses a system called Zelle Network to permit customers to send money to and from a U.S bank account in real-time or next day delivery.

Supplier Prefer Pay offers several payment methods including a complete solution to register and pay suppliers. It helps businesses move away from writing checks to move towards a paperless system. This system also processes vendor payments along with providing details about the transaction to the vendor.

Dominic Venturo, executive vice president and chief innovation officer of U.S. bank said, “Organizations are looking for payment solutions that solve real-life challenges. With Disbursements via Zelle and Supplier Prefer Pay we make payables more secure and efficient for business clients by eliminating the upfront effort required to obtain payees’ banking information.”

USB  has been assisting in the innovation of faster payments arena for many years and they became one of the first financial corporations to partner with Zelle and the first to launce its Zelle B2C payments this year.

“U.S. Bank continues to be a leader in financial services innovation. These solutions are examples of how U.S Bank is innovating using new payment technology to provide effective ways of optimizing working capital and reducing overall processing costs,” said Rich Erario, executive VP and head of Global Treasury Management.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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