Huntington National Bank extends Huntington ChoicePay into higher education and business services

Rhea-AI Summary

Huntington National Bank, a subsidiary of Huntington Bancshares (Nasdaq: HBAN), announced the expansion of its Huntington ChoicePay service into sectors like higher education and business services on April 14, 2023. Originally launched in May 2022, Huntington ChoicePay facilitates electronic payments, offering clients the ability to disburse funds to end-users through pre-paid and closed-loop cards. This digital payment solution addresses the evolving expectations of consumers and businesses seeking efficient transaction methods. The bank emphasizes its commitment to innovation and flexibility in its payment offerings, showcasing leadership in business-to-consumer payments.

Positive

• Expansion of Huntington ChoicePay into higher education and business services.
• Facilitates electronic payments improving efficiency for clients.
• Addresses evolving consumer and business needs with flexible payment options.

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• None.

Bank activates digital capabilities in new sectors to expand on enterprise payments strategy

COLUMBUS, Ohio, April 14, 2023 /PRNewswire/ -- Huntington National Bank, a subsidiary of Huntington Bancshares, Incorporated (Nasdaq: HBAN) announced its expansion of Huntington ChoicePay into other sectors, including higher education and business services. Using Huntington ChoicePay in their business-to-consumer payables allows these clients to disburse funds to end-users in electronic payment forms, predominantly in pre-paid cards and closed-loop cards from major retailers.

Huntington ChoicePay is a business-to-consumer payment solution that launched in May 2022 as a software as a service (SaaS) offering built in the cloud. It enables Huntington and its clients to rapidly distribute payments on behalf of businesses to end consumers, providing a faster and broader range of payment options. In a digitally evolving world, consumers and businesses expect efficient and convenient payment methods, and Huntington lets them choose the forms of payment that best align with their needs.

"Huntington ChoicePay gives both the payers and payees a choice on how to make and receive payments," said Amit Dhingra, Huntington Enterprise Payments Director. "Our customers' needs and expectations are ever-changing. With expanded electronic offerings, reliable and differentiated payments are accessible to consumers and businesses of all sizes in a way that addresses those needs and expectations, making their lives easier and helping businesses thrive.

"Development in additional sectors like higher education and business service firms demonstrates our commitment in expanding Huntington ChoicePay and demonstrating our leadership in business-to-consumer payments," Dhingra said. "As a people-first, digitally powered bank, we continue to look out for our customers and find flexible, innovative solutions to help simplify and speed up these processes in sectors like government, healthcare, insurance, automotive and higher education."

About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $183 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle–market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Inc.