The Bank of New York Mellon ( NYSE: BK ) on Monday has launched a payment platform , called Vaia, that allows U.S.-based institutions to offer their end customers access to a suite of digital payment options.
The new platform includes a number of payment choices that could reduce the time and resources needed for businesses top connect with payment rails, it said, including real-time payments, same-day ACH, tokenized payments with Zelle, and debit cards.
In an effort to mitigate fraud and ensure a safe payment process, Vaia leverages the bank's Account Validation Services to verify payee identities and validate accounts end-to-end.
The move shows that BNY Mellon ( BK ) is increasingly committed to integrating technology-centric solutions with its banking offerings. Towards the end of September, for instance, the lender enhanced its securities finance platform to let its clients analyze their portfolios alongside their sustainability goals.
BK said it plans to support cross-border payments with Vaia in future roll-out phases.
BNY mellon ( BK ) stock perked up 1.7% in premarket trading.
Earlier in the month, (Oct. 11) BNY Mellon enables some U.S. clients to hold, transfer bitcoin, ether .
For further details see:
BNY Mellon introduces new payments platform for institutions' end customers