Network Brings Card Capability to Market and Surpasses $200 Billion in Annual Volume.
PORTSMOUTH, N.H. – May 2, 2017 — Bottomline Technologies (NASDAQ: EPAY), a leading provider of financial technology which helps make complex business payments simple, smart, and secure, today announced that its Paymode-X electronic payment network is experiencing strong growth driven by strategic advancements in payment processing.
With more than 365,000 businesses in the network, Paymode-X is now processing more than $200B in annual spend. The scale of the network and large number of enrolled vendors makes Paymode-X the clear choice for businesses seeking payment automation and payables monetization.
The growth Paymode-X has experienced reflects an innovation strategy that includes:
- Integrating Visa Payables Solutions with Bottomline's Paymode-X
- Integrating Mastercard In Control for Commercial Payments with Bottomline’s Paymode-X
- Leveraging predictive analytics in the Paymode-X Intelligent Engagement Model to increase vendor adoption and cash rebates
- Launching Paymode-X Intelligent Payment Routing which automatically selects the optimal settlement routing for each payment
“Organizations need every advantage they can get to be more efficient and secure with their payment processes” said Jessica Moran, General Manager of Cloud Payment Solutions at Bottomline Technologies. “Paymode-X, the way businesses increasingly prefer to pay and get paid, is helping them do just that.” John Bultema, Executive Vice President, Treasury Management at Fifth Third Bank said “The Paymode-X network offers our clients a number of valuable benefits that help to significantly improve payment efficiency. The continuous growth of the Paymode-X network means our clients are able to convert to electronic payments more quickly by easily connecting and transacting with a constantly increasing number of trading partners.”
About Bottomline Technologies:
Bottomline Technologies (NASDAQ: EPAY) helps make complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the U.S., Europe, and Asia-Pacific. For more information visit www.bottomline.com.
Director, Marketing Communications