The Exact Authority Overrride (EAO) facility, which enables companies to authorise card payments for a specific amount, is the final piece in the ePayables Suite from BofA Merrill.

ePayables enables clients to automate supplier payments by disbursing the funds directly to a supplier's account. The straight-through process requires no supplier intervention, resulting in auto reconciliation for clients as well as efficiencies for suppliers. Also push payments offer the additional benefits of enhancing compliance with Payments Card Industry (PCI) standards, and reducing the potential for fraud since no card account information is exchanged in the process.

There are more than 1,000 clients making payments to 56,000+ vendors using ePayables which leverages the bank's patented Active Card Control™ technology, allowing clients to manage available funds in real-time, reducing risk and increasing control.

Exact Auth Override will be available to clients starting mid-July 2012.