10:54 AM EDT, 07/25/2024 (MT Newswires) -- Bank of America ( BAC ) said Thursday that corporate payment approvals done via its CashPro App were above $500 billion as of the middle of the year, an increase of about 40% from the same period last year.

The bank said corporate payment approvals through the app are on track to reach $1 trillion by the end of this year.

The app is used by 550,000 people at 40,000 companies globally, Bank of America ( BAC ) said.

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