FleetBoston Financial is to offer PayMode, a B2B Internet payments solution from Portland-based Clareon, to its 500,000 corporate cash management customers.
Fleet, the fifth-largest cash management bank in the US, says it will market the software to its corporate customers as an alternative to paper cheques.
Clareon's PayMode is a bank-neutral system that enables businesses to make and receive secure Internet payments. Clareon markets the software through financial institutions like Fleet, as well as directly to brick-and-mortar enterprises.