Bottomline Technologies (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.”