Five US banks sign up to XPSN electronic funds transfer network

Five US banks sign up to XPSN electronic funds transfer network

Financial supply chain services provider Xign Corporation has certified five leading US banks to process electronic funds transfers via its payment network.

Commercial customers of Bank of America, Bank One, Citibank, Wells Fargo, and Silicon Valley Bank are now using the Xign Payment Services Network (XPSN) - an Internet-based B2B payment and settlement service that streamlines bank-provided Automated Clearing House (ACH) services for business.

David Holly, vice president of e-business for Bank One, says: "We consider XPSN a valuable settlement component that can help companies across multiple industries transition from paper cheques to ACH processing quickly and effectively."

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