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New press release > Bottomline Technologies' Paymode-X Meets Integrated Payables Needs for a Growing Number of Businesses

Finance

(Free Press Release) The record-setting number of new Paymode-X customers spans a variety of industries, including healthcare, property management, and manufacturing. The majority of customers signed on to Paymode-X through Bottomline's bank channel partners, who offer the solution to deepen customer relationships by providing market-leading integrated payables capabilities.

New press release > Bottomline Technologies' Paymode-X Meets Integrated Payables Needs for a Growing Number of Businesses


      

Growth in New Payer Members Underscores Leading Payment Automation Capabilities

PORTSMOUTH, N.H., July 06, 2018 (GLOBE NEWSWIRE) -- Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that helps make complex business payments simple, smart, and secure, today announced 46% year-over-year growth in new customers that have joined its Paymode-X network to take advantage of integrated payables capabilities for more efficient, secure, and environmentally-friendly payment processes.

The record-setting number of new Paymode-X customers spans a variety of industries, including healthcare, property management, and manufacturing. The majority of customers signed on to Paymode-X through Bottomline's bank channel partners, who offer the solution to deepen customer relationships by providing market-leading integrated payables capabilities. free press release

"Integrated payables capabilities are critical to businesses making the transition from fraud-prone, costly paper checks to greener, more streamlined, secure and cost-effective electronic processes," said Jessica Moran, General Manager, Paymode-X Business Solutions, Bottomline Technologies. "Paymode-X delivers these capabilities uniquely well, as evidenced by our significant year-over-year customer growth."

According to the 2018 B2B Payments and Working Capital Management Survey conducted by Strategic Treasurer, only 30% of businesses make more than 70% of their payments electronically, reinforcing the fact that the way many businesses approach B2B payments fails to achieve desired automation levels and leaves them with a large remaining stack of paper checks. free press release

Paymode-X is the largest electronic payment network for businesses, providing customers with full payment automation through streamlined integrated payables capabilities. Unlike standalone card or ACH programs with disparate implementations and payment files, Paymode-X offers a simpler approach that enables payers to make card, ACH, check and wire payments to vendors in a single process. Paymode-X manages payment preferences across its 385,000+ member businesses, and leverages intelligent payment optimization to settle transactions using the most beneficial payment type for each trading relationship.

"We are thrilled to welcome a record-setting number of new customers to Paymode-X," said Moran. "As Paymode-X continues to innovate and become the way business pay and get paid, we look forward to adding additional businesses and their banks to our network."

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.

Media Contact: Gemma Waite
Director, Marketing Communications
Bottomline Technologies
603.501.6537
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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




New press release > Bottomline Technologies' Paymode-X Meets Integrated Payables Needs for a Growing Number of Businesses

Source: Press Release

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