Corporate customers of Bank of America Corp.'s Global Treasury Services unit can now accept payments online or over the phone with a single system.
Remote Payments Online has been pilot tested for several months and is now being used by more than 70 companies, said Aileen Gleason, a senior manager of receipts product management at B of A.
The service can process recurring or one-time payments made by a credit card or through an automated clearing house. It is based on software developed by Princeton eCom Corp. in New Jersey.
Clients "don't have to buy software," Ms. Gleason said. Instead, they connect their e-commerce site to an area on Bank of America's site that is branded with their name. Customers making a phone purchase can be connected to the bank with an interactive voice response system.
The Charlotte company has received interest from governments, credit card issuers, utilities, and real estate companies, Ms. Gleason said. "It's very flexible, and we can tailor it to their needs."
B of A can also combine data from Remote Payments Online with other sources, including lockbox and electronic data interchange transactions, she said. This provides "a single, integrated file" that can be delivered directly to a client's accounts receivable system.
