PORTSMOUTH, N.H., Nov. 18, 2015 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of cloud-based payment, invoice and digital banking solutions today announced a strategic alliance with Visa Inc. (NYSE:V) that will create the optimum way for businesses to pay and get paid. Visa’s commercial card solution, Visa Payables, and Bottomline’s payment network, Paymode-X, join to create Paymode-X with Visa Payables.
Paymode-X with Visa Payables advances the two companies’ shared vision for business payment automation. The combined solution draws upon the strength of two large established networks, best-of-breed commercial card and payment capabilities and a proprietary vendor onboarding methodology. Paymode-X with Visa Payables will be easy for payers and vendors to join and use, accelerating and maximizing opportunities for payment efficiency, security and financial gains.
“The combination of Visa Payables and Paymode-X will bring corporate clients a seamless experience that simplifies payment automation and maximizes cost savings, efficiency and security,” said Brian Triplett, SVP and global head of Commercial Solutions, Visa. “By integrating Visa’s digital payment capabilities with Paymode-X, Visa continues to enhance our suite of commercial solutions, empowering corporate buyers and suppliers to take advantage of the benefits of electronic payments.”
As a premier payments technology company, Visa’s global network connects thousands of financial institutions with millions of merchants and cardholders every day. Paymode-X is one of the world’s largest business-to-business payment networks with more than 300,000 businesses. It facilitates the online exchange of electronic payments and remittance advices between payers and vendors in a user-friendly and intuitive format.
“Our aspiration is to be the way businesses pay and get paid. The integration with Visa is a big step forward to achieving that vision,” said Rob Eberle, President and CEO at Bottomline Technologies. “Providing the full capabilities of Paymode-X and the broad reach of Visa Payables creates a business payments solution that simplifies automation while maximizing its benefits.”
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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Source:Bottomline Technologies, Inc.