August 19, 2019Blog Posts

Rite Aid taps Bank of America for payment processing and security

Mobile Payments Today

Bank of America Merchant Services said it entered an agreement with Rite Aid to become its payments processor and digital security provider at 2,400 store locations and the chain’s RiteAid.com e-commerce site. 

Rite Aid CFO Matt Schoeder said that Bank of America would be providing the chain with a technology called advanced smart routing, which will help Rite Aid with efficiency and effectiveness when completing PIN transactions. 

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