Bottomline Technologies Reports New Innovation and Strong Growth for Paymode-X Network

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Network Brings Card Capability to Market and Surpasses $200 Billion in Annual Volume PORTSMOUTH, N.H., May 02, 2017 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of technology solutions to help businesses pay and get ...

Network Brings Card Capability to Market and Surpasses $200 Billion in Annual Volume

PORTSMOUTH, N.H., May 02, 2017 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of technology solutions to help businesses pay and get paid, 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:

  • Introducing Paymode-X with Visa Payables Solutions to create an integrated payables offering for banks
  • 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 businesses pay and get paid. We make complex business payments simple, secure and seamless. Businesses and banks rely on Bottomline for domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review and state of the art fraud detection, behavioral analytics and regulatory compliance. Headquartered in Portsmouth, New Hampshire, we delight our customers through offices across the United States, Europe, and Asia-Pacific. Businesses around the world depend on Bottomline solutions to help them pay and get paid, including some of the world's largest systemic banks, private and publicly traded companies and Insurers.

Every day, we help our customers by making complex business payments simple, secure and seamless. 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. MasterCard In Control(TM) is a registered trademark of MasterCard.  Paymode-X Intelligent Engagement Model is a registered trademark of Bottomline Technologies.

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, 2015 and any subsequently filed Form 10-Qs and Form 8-Ks 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.

Contact for Media:
Henry Goodwin
Bottomline Technologies
603.380.6106
henry.goodwin@bottomline.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bottomline Technologies, Inc. via Globenewswire

Source(s) : Bottomline Technologies, Inc.

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