BNY Mellon Treasury Services will be integrating the MasterCard Payment Gateway into its suite of payment solutions for corporate clients. Complementing the automated clearing house (ACH), wire transfer and cheque payment services already available from BNY Mellon, the MasterCard Payment Gateway will allow BNY Mellon clients to take advantage of the speed, cost efficiency, security and disbursements management benefits of electronic business-to-business (B2B) card payments as part of a comprehensive array of payment alternatives.
BNY Mellon will use the MasterCard Payment Gateway as an electronic B2B payments network connecting clients with their suppliers. The MasterCard Payment Gateway will enable BNY Mellon to expand how it addresses its corporate customers’ needs across a broad set of spend categories and large value payments. Integration of the gateway is scheduled for completion by the end of this year.
“Making the benefits of electronic payments processing more readily accessible to our clients is a key strategic focus for us,” said Al Briand, managing director and head of product development and strategic development at BNY Mellon Treasury Services. “The ability of new, innovative B2B card programmes to deliver the advantages of straight-through processing (STP) – speed, reliability, efficiency and compatibility with advanced cash management strategies and systems – make them a perfect fit for our suite of payment solutions.”