CIBC, YAHOO! Offer U.S. Payment Service
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CIBC has teamed up with Yahoo! to provide Yahoo! PayDirect U.S.consumers a way to request, receive, send and make payments over the Internet, eliminating the need for mailing paper checks and money orders.
Users will have the added assurance that a major financial institution with Internet banking capabilities stands behind the service.
Yahoo! PayDirect accounts will be held and managed by CIBC National Bank, a member of the Amicus group of companies. Amicus was established by CIBC to bring together its Internet banking business.
CIBC is one of North America's leading financial institutions with US $181 billion in assets and more than eight million personal banking and business customers.