BNY Mellon launches new aggregated payments platform Vaia
US multinational BNY Mellon has launched a new aggregated payments platform called Vaia, built to provide American firms access to the most up-to-date digital payment options for disbursements.
BNY Mellon launches Vaia
Via a single integration, institutions can offer payees a suite of payment choices, including real-time payments (RTP), same-day ACH, tokenised payments with Zelle and debit cards.
BNY Mellon says the Vaia platform, which was built in collaboration with Verituity, a cloud-based solution that connects banks, payers and payees to first-time and on-time digital payouts, will cut the time and resources needed for businesses to connect with any available payment rails.
The platform also leverages BNY Mellon’s account validation services to verify payee identities and validate accounts end-to-end, helping to mitigate payment fraud.
BNY Mellon’s CEO of treasury services, Jennifer Barker, says that end customers are looking for “greater choice” in how they are paid, “but with so many digital payment options emerging, businesses are struggling to stay up to date with, and connected to, the latest capabilities”.
Barker adds that Vaia has been launched to ensure clients’ end customers “always have access to the latest suite of digital payment options”.
