Product Allows Buyers to Make GBP or EUR Payments by Virtual Card to Suppliers That Prefer Bank Transfers

LONDON, Oct. 2, 2024 /PRNewswire/ — Bank of America, a global leader in commercial cards, has expanded its Virtual Payables capabilities in EMEA1 with the launch of Virtual Payables Direct. The business-to-business (B2B) payment solution provides buyers with the usual working capital advantages of a card transaction – such as extended payment terms – in addition to a new enhancement that allows suppliers to be paid via a direct bank transfer. This comes at a time when the global B2B payments market is growing rapidly and is projected to reach over US$2.4 trillion by 20312.

“Virtual Payables Direct offers our clients in EMEA greater flexibility as they can make card payments to any supplier in the region, regardless of whether the supplier typically accepts card payments,” said Chris Jameson, head of Product Management for Global Payments Solutions (GPS) EMEA. “The payments are made much earlier in the procurement cycle, thereby helping to improve important supplier relationships and allowing the buyer to take advantage of any prompt payment discounts.”

Watch video message from Chris Jameson.

A key advantage of Virtual Payables Direct is that it helps businesses manage working capital, one of the top priorities for corporate treasurers3 which has been brought to the fore over the past year. The solution provides greater flexibility for buyers as it allows for large, one-off or last-minute payments. Suppliers can also receive a fast payment through a bank transfer. These benefits allow all parties to manage their cashflow more effectively and enable greater operational efficiency.

Benefits of Virtual Payables Direct

Helps corporate treasurers and buyers optimise working capital.Provides greater flexibility for large or last-minute purchases.Eliminates the need for suppliers to perform a technical set-up to process card payments.Buying organisations enjoy extended payment terms as part of their card programme.Suppliers receive prompt payment through bank transfer.

“We’re pleased to expand payment options for our clients with this new capability,” said Duygu Tasdelen-Stavropoulos, Senior Product Manager – B2B and Payables, GPS EMEA. “Virtual Payables Direct will contribute to the considerable benefits of virtual card payments, such as streamlining and automating processes, and reducing payment acceptance complexity, risk and costs.”

The rollout of Virtual Payables Direct in EMEA1 will continue in 2025, with the addition of product enhancements and expansion to other regions.

Visit the bank’s website for more information about the bank’s Card and Comprehensive Payables solutions.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact:
Megan Pearson, Bank of America   
Phone: +44.20.7995.6977
megan.n.pearson@bofa.com 

Info – https://mma.prnewswire.com/media/2521119/BofA_Virtual_Payables_Infographic.jpg

Logo – https://mma.prnewswire.com/media/1612970/Bank_of_America_Corporation_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/bofa-unveils-virtual-payables-solution-to-support-the-booming-b2b-market-302264714.html

Findings follow 300 million review milestone, 19% YoY bookings growth (at constant currency) in the UK for trusted global platform

LONDON, Oct. 2, 2024 /PRNewswire/ — Trustpilot, the global independent review platform, today unveiled the findings of its 2024 Total Economic ImpactTM (TEI) study. The commissioned study conducted by Forrester Consulting on behalf of Trustpilot found that organisations that deployed Trustpilot received a 401% return on investment, generating a $959K net present value, or a total value of $1.2M. 

The TEI study demonstrated how investing in Trustpilot helped organisations leverage reviews, build brand equity and trust, and spur customer acquisition at scale. Forrester interviewed representatives from organisations using Trustpilot and surveyed 221 respondents across the UK, US, Italy, and Germany. The findings were combined into a composite profile of a global, industry-agnostic organisation with $200 million in annual revenue. The three-year, risk-adjusted present value (PV) quantified benefits include:

Trustpilot improved customer acquisition worth $1MTrustpilot improved operational efficiencies worth $189kTrustpilot helped increase traffic by 35% in year 3 (25% in year 1, 30% in year 2)

One of the Trustpilot customers interviewed, Adam Lindsey VP –  Global Operations at Groupon, said “The biggest risk of not working with Trustpilot is you don’t know what’s happening and you can have some rather viral type of comments that aren’t handled.”

The study revealed additional qualitative benefits of partnering with Trustpilot, including:

Enhanced brand awareness – Trustpilot provides organisations with highly valued third-party validation. In the Forrester survey of 221 professionals, 98% agreed that reviews and ratings helped their organisation improve brand reputation.Improved employee experience (EX) – Study found that positive reviews lifted morale in the workplace and helped create a supportive and positive culture.Richer insights into customer sentiment – Trustpilot enabled organisations to gather unique and extensive customer feedback they wouldn’t have been able to access otherwise, which helped them manage operations more effectively.Improved customer satisfaction – The platform allowed organisations to engage directly with customers and in a prompt manner. By enabling organisations to act quickly, Trustpilot helps build trust and loyalty that boosts customer satisfaction.

“Our team has always believed that connecting brands and consumers and advocating for transparency in the reviews process can help build trust and deliver business growth” said Alicia Skubick, Chief Customer Officer at Trustpilot. “We’re delighted that the Forrester study reinforces this and highlights both the qualitative and quantitative results our customers have experienced by including Trustpilot in their marketing, insight gathering, and customer acquisition efforts.”

Trustpilot’s TEI study follows the company’s most recent earnings report, revealing that bookings growth is up 19% globally, with exceptional performance in the UK, where bookings growth is up 19% at constant currency. The company also saw a 16% year-over-year growth in revenue at constant currency in the UK. Globally, the company recently achieved over 300 million reviews, including 53 million in 2023 alone.  

Find out more on how Trustpilot drove growth for its customers at: https://uk.business.trustpilot.com/calculate-roi 

About Trustpilot

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant today than ever – to be the universal symbol of trust, bringing consumers and businesses together through reviews. Trustpilot is open, independent, and impartial – we help consumers make the right choices and businesses to build trust, grow and improve.

Today, we have more than 300 million reviews on the platform and 67 million monthly active users across the globe, with 127 billion annual Trustpilot brand impressions, and the numbers keep growing. We have more than 900 employees and we’re headquartered in Copenhagen, with operations in Amsterdam, Denver, Edinburgh, Hamburg, London, Melbourne, Milan and New York.

Logo – https://mma.prnewswire.com/media/2236459/4946408/Trustpilot_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/total-economic-impact-study-finds-401-roi-for-companies-using-trustpilot-302264804.html

BEIJING, Oct. 2, 2024 /PRNewswire/ — TAL Education Group (“TAL” or the “Company”) (NYSE: TAL), a smart learning solutions provider in China, today announced that it will release its unaudited financial results for the second quarter of fiscal year 2025 ended August 31, 2024, before the market opens on Thursday, October 24, 2024.

The Company will host a corresponding conference call and live webcast at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing Time) on Thursday, October 24, 2024.

Please note that you will need to pre-register for conference call participation at
https://register.vevent.com/register/BIb77ca114970c4bd1bfe7d1770af84eac.

Upon registration, you will receive an email containing participant dial-in numbers and unique Direct Event passcode. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

A live and archived webcast of the conference call will be available on the Investor Relations section of TAL’s website at https://ir.100tal.com/.

About TAL Education Group

TAL Education Group is a smart learning solutions provider in China. The acronym “TAL” stands for “Tomorrow Advancing Life”, which reflects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversified class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol “TAL”.

For investor and media inquiries, please contact:

In China:

Jackson Ding
Investor Relations
TAL Education Group
Tel: +86 10 5292 6669-8809
Email: ir@tal.com

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: TAL@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Phone: +1-212-481-2050
Email: TAL@thepiacentegroup.com

View original content:https://www.prnewswire.com/news-releases/tal-education-group-to-announce-second-quarter-of-fiscal-year-2025-financial-results-on-october-24-2024-302264980.html

SOURCE TAL Education Group