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Check this: BNY Mellon taking payment push from paper to digital

·2 min read
Check this: BNY Mellon taking payment push from paper to digital
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One of the largest check processors in the country which happens to rank among Pittsburgh’s biggest financial institutions, on Tuesday said it is leveraging a series of digital innovations and financial benefits to support clients’ transition from paper to electronic transactions. BNY Mellon said initiatives include the exploration of carbon-tracking tools that could show clients the true environmental cost of their paper payments, as well as price discounts on certain digital payment solutions and waivers of some upfront implementation fees for select clients that commit to the digital journey. BNY Mellon said its clients have already reduced the amount of checks sent to the New York-based financial giant for processing by 3% in 2020 and by 8.5% from 2019 levels, with those check volumes falling to 291 million in 2021.