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) 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.