COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — Huntington Bancshares Inc. (Nasdaq:HBAN) has acquired a San Francisco startup that powers digital payments from businesses to consumers – transactions such as insurance claims, rebates and refunds.
Digital Payments Torana Inc. will rebrand as Huntington ChoicePay, the bank said in a release.
The deal helps Huntington’s commercial banking division better serve businesses of all sizes, especially in industries such as government, healthcare and insurance that need to process payments to consumers, Scott Kleinman, commercial co-president, said in the release.
Cloud-based digital tools enable faster payments without consumers having to enter bank account numbers or other cumbersome steps.
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