Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

BANK OF NEW YORK MELLON CORPORATION (THE)

(BK)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

The Bank of New York Mellon Corporation, Citi and Verizon Launch Real-Time Bill Pay for Retail Customers in Market First

09/15/2021 | 08:00am EDT

The Bank of New York Mellon Corporation and Citi have collaborated with Verizon to send request-for-payment messages to consumers who bank with Citi. When using BNY Mellon's new Real-Time E-Bills and Payments functionality, Verizon customers with Citibank accounts can pay their bills immediately, at any time of day, 365 days a year, and enjoy greater control over their finances to help avoid overdraft fees. Additionally, Verizon customers who bank at Citi can use Citibank Online to schedule the payment to be made at a specified date and time in the future, such as on their next recurring payday or as an on-demand payout from a platform supporting a supplementary income stream, such as a ride-hailing or food delivery app. Verizon's use of BNY Mellon's Real-Time E-Bills and Payments functionality presents a major enhancement over setting up standing payment instructions across the ACH network, since automated payments can encounter insufficient fund balances, generating overdraft fees and other expenses, adding undue frustration to consumers and creating exception scenarios for billers. Unlike an ACH transaction or a paper check, Real-Time E-Bills and Payments are immediate and fully controlled by the consumer, who can authorize and schedule each payment to who they want to pay, when they want. The secure payment also provides the consumer with full transparency, including the ability to receive an instant acknowledgment confirming that a monthly obligation has been satisfied. This eliminates uncertainty around when funds will be debited from a consumer's account and avoids the interchange fees charged for credit and debit card payments. While real-time payments were previously available for bank-to-bank transactions for large organizations, this is the first at-scale use of the technology in production with retail customers. This innovative functionality revolutionizes the bill pay experience for both the biller and the customer, connecting BNY Mellon as the billing bank, Verizon as the biller and Citi as the customer's bank, with the transaction transmitting in real time over The Clearing House's RTP® network.


© S&P Capital IQ 2021
All news about BANK OF NEW YORK MELLON CORPORATION (THE)
10/21Russia's SPB Exchange enters custody agreement with BNY Mellon before IPO
RE
10/20BANK OF NEW YORK MELLON : Barclays Adjusts Bank of New York Mellon's Price Target to $62 f..
MT
10/20BANK OF NEW YORK MELLON : Deutsche Bank Adjusts Bank of New York Mellon PT to $70 From $71..
MT
10/20BANK OF NEW YORK MELLON : RBC Boosts Price Target on Bank of New York Mellon to $60 From $..
MT
10/20EVAN SPIEGEL : Stock Futures Waver Ahead of Big Tech Earnings
DJ
10/19BANK OF NEW YORK MELLON : Tops Third-Quarter Street Estimates as Market Values Boost Reven..
MT
10/19BANK OF NEW YORK MELLON : Maintains Quarterly Dividend at $0.34 a Share, Payable Nov. 12 t..
MT
10/19Bank of New York Mellon 3Q Profit Rises, Beats Expectations
DJ
10/19BANK OF NEW YORK MELLON : Posts Higher Q3 Earnings, Revenue
MT
10/19BANK OF NEW YORK MELLON : BNY MELLON REPORTS THIRD QUARTER 2021 EARNINGS OF $881 MILLION O..
PU
More news
Analyst Recommendations on BANK OF NEW YORK MELLON CORPORATION (THE)
More recommendations
Financials (USD)
Sales 2021 15 867 M - -
Net income 2021 3 540 M - -
Net Debt 2021 33 209 M - -
P/E ratio 2021 14,4x
Yield 2021 2,20%
Capitalization 49 310 M 49 310 M -
EV / Sales 2021 5,20x
EV / Sales 2022 5,05x
Nbr of Employees 48 900
Free-Float 61,0%
Chart BANK OF NEW YORK MELLON CORPORATION (THE)
Duration : Period :
Bank of New York Mellon Corporation (The) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF NEW YORK MELLON CORPORATION (THE)
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 59,71 $
Average target price 62,03 $
Spread / Average Target 3,88%
EPS Revisions
Managers and Directors
Thomas P. Gibbons Chief Executive Officer & Director
Emily H. Portney Chief Financial Officer
Joseph J. Echevarria Non-Executive Chairman
Bridget E. Engle Chief Operations & Technology Officer
James S. Wiener Chief Investment Officer & Senior Vice President
Sector and Competitors