Payment news, November 9

BoA Merrill expands its online payment and invoicing system Paymode-X, while Thomson Reuters launches Eikon in Asean.

BoA Merrill expands online payment system

Bank of America Merrill Lynch (BoA Merrill) has incorporated its online payment and invoicing system, Paymode-X, to its supply chain and treasury solution offering. Paymode-X, which is powered by Bottomline Technologies, combines electronic purchase order submissions, invoicing and payment settlements onto a single platform for the bank’s customers. This allows them to control and predict cashflow more efficiently, reduce processing costs and strengthen relationships with their suppliers.

“These enhancements will give our clients an even more efficient online application to eliminate paper processing and drive a more efficient supply chain, allowing them to optimise working capital, reduce costs and strengthen controls,” said Chris Bozek, global trade and supply chain product executive at BoA Merrill, in a statement. “Through our relationship with Bottomline Technologies, we continue to collaborate on product innovations and deliver them to our clients.”

Thomson Reuters launches Eikon and wins mandate

Thomson Reuters announced the launch of Eikon, the third component of its efforts in Asean to consolidate market information, news, analytics and trading tools into a desktop.

“In a world where markets, geographies and asset classes are increasingly correlated, the need for easily accessible information becomes vital. Thomson Reuters Eikon removes the need to remember instrument codes or use complex interfaces,” said Edward Haddad, Singapore managing director at Thomson Reuters, in a statement.

In addition, the global information company has been mandated by Vietnam’s Maritime Bank to provide a front-to-back treasury and risk management solution.

“Maritime Bank and its management are to be commended for their foresight on risk management at a time when most of the world is recovering from unprecedented financial turmoil,” said Andrew White, global head of risk management at Thomson Reuters, in a statement.

Ingenico to provide payment support for McDonald’s

Payment solutions provider Ingenico has been selected by McDonald’s in Australia and New Zealand to provide a PCI DSS compliant payments infrastructure in its restaurants. The solution is currently being implemented in McDonald’s Australia and will then be rolled out in McDonald’s New Zealand.

“We’re delighted to be able to offer McDonald’s such an integrated end-to-end solution”, said Theirry Denis, managing director at Ingenico International, in a statement. “They know the importance of their customers and can now deliver faster payment and better customer experience.”

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