Today, Bank of America Merchant Services, LLC – a U.S. leading electronic payments announced its expansion to Europe. In addition, a new London-headquartered unit, BofA Merrill Lynch Merchant Services Limited will be soon created.
BofAML Merchant Services will assist the progress of e-commerce, including transactions of card-present and card-not-present for clients in search for international payment services, and will integrate with the existing services offered under the transaction banking platform of BofAML.
A chief executive of BAC Merchant Services said, “Bank of America Merchant Services’ largest clients have complex global payments needs, and our presence in Europe will enable them to work with a consistent platform and team to help simplify their experience,”
“We are excited about this opportunity to provide multi-national clients our capabilities in Europe,” he added.
Michael Reed, Executive Vice President and Segment Manager run the BofAML Merchant Services and is based in London. With over two decades in the payments industry, Reed has achieved experience, including his previous role as the Chief Operating Officer and general manager intent for a large client sales group of the organization.
Furthermore, the new European unit aims to support online transactions, which covers more than 130 currencies, including leverage security features like Address Verification and 3D Secure in order to minimize fraud businesses and help consumers to have peace of mind.
To aid giant enterprises with their complex cash flows, the new unit leverages BofAML strength as well. In terms of working with clients, BofAML Merchant Services targets to trim down receivables, enhanced liquidity and streamline payments among countries and regions.
Reed said, “Our clients have been requesting the same value and service they get in the United States,”
“We want to deliver custom solutions for our cross-border clients that meet their complex needs,” he added.
Matthew Davies, co-head of Product Management for Global Transaction Services EMEA at Bank of America Merrill Lynch said, “The launch of BofAML Merchant Services in Europe provides a great opportunity to further support our global client base, by offering enhanced expertise in electronic payments in addition to our existing range of transaction banking services offered through our GTS platform.”
BAC Expands Quarterly Results Availability
Investors were left with big smiles on their faces with an easier access to information as the Bank of America has expanded the quarterly financial results of the company.
Furthermore, investors and media members are able to access the quarterly financial results of the company through a variety of outlets. Thus, a news release from the company, including the supplemental filing and investor presentation will be distributed. The public will be notified by Bank of America through its own social media outlet, as well as by filing the financial results of the financial firm along with the Securities and Exchange Commission on Form 8-K.
Media members can register to the Bank of America newsroom for an email alert and be notified as the company issues a news release.
Q1 Financial Results Scheduled on April 14
The first-quarter of the Bank of America for the current year will be issued on April 14, and the company will be reviewing the results together with investors.