Bottomline Technologies Reports Record Growth for Paymode-X Network
PORTSMOUTH, N.H. – January 29, 2016 — Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and digital banking solutions today announced that the Paymode-X electronic payment network recognized accelerated adoption and record growth in 2015. The combination of new partnerships, product innovation, and a growing network deepens the value of the platform by broadening its reach and further simplifying payment automation for more businesses.
Highlights of the year include:
- The announcement of a strategic alliance with Visa to create Paymode-X with Visa Payables Solutions.
- The addition of Fifth Third Bank and BNY Mellon to a portfolio of bank partners.
- Continued growth of relationships with Bank of America Merrill Lynch, the longest standing strategic Paymode-X partner, as well as Citizens Financial Group, a partnership that recently expanded to include global payments, and Trustmark.
- New innovations aimed at increasing value for network member businesses, including a feature that streamlines the process of locating and transacting with valued trading partners.
- Surpassing 330,000 network members.
- Processing more than $182B in spend between member businesses.
“Supplier enablement is critical to the success of any AP or P2P automation deployment,” said Andrew Bartolini, Chief Research Officer at Ardent Partners. “This means that the networks with a large number of active suppliers, like Paymode-X, can generally enable more electronic transactions, faster and help businesses accelerate their returns.”
“We continue our focus on providing businesses with the most efficient and secure way to exchange electronic payments,” said Jessica Moran, General Manager of Cloud Payment Solutions at Bottomline Technologies. “Paymode-X is increasingly becoming the way businesses prefer to pay and get paid.”
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) powers mission-critical business transactions. We help our customers optimize financially-oriented operations and build deeper customer and partner relationships by providing a trusted and easy-to-use set of cloud-based digital banking, fraud prevention, payment, financial document, insurance, and healthcare solutions. Over 10,000 corporations, financial institutions, and banks benefit from Bottomline solutions. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.
Bottomline Technologies and the Bottomline Technologies logo are trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names may be trademarks of their respective owners.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements reflecting our expectations about our ability to execute on our growth plans. Any statements that are not statements of historical fact (including but not limited to statements containing the words “believes”, “plans”, “anticipates”, “expects”, “look forward”, “confident”, “estimates”, and similar expressions) should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors including, among others, competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' operational and financial results, refer to our Form 10-K for the fiscal year ended June 30, 2014 and any subsequently filed Form 10-Q’s and Form 8-K’s or amendments thereto. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
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