Paymode-X Expands Network with Billtrust’s Business Payments Network

Rhea-AI Summary

Billtrust (NASDAQ: BTRS) has announced a strategic partnership with Bottomline Technologies (NASDAQ: EPAY) that enhances the Paymode-X Network. This collaboration allows Bottomline's customers to access new card acceptance points via Billtrust's Business Payments Network (BPN). Customers can expect reduced processing times and costs, marking a significant step in the transition from traditional payment methods.

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• New card acceptance points via Business Payments Network enhance payment processing for Bottomline Technologies' clients.
• Partnership expected to decrease processing times and costs, improving operational efficiency.

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• None.

New Relationship Empowers Paymode-X Network Customers with New Card Acceptance Points

LAWRENCEVILLE, N.J., May 12, 2021 (GLOBE NEWSWIRE) -- Billtrust (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, announced today that Bottomline Technologies (NASDAQ: EPAY), a leading financial technology provider, will connect its Paymode-X payers to new card acceptance endpoints via Billtrust’s Business Payments Network (BPN).

Bottomline customers are now able to use BPN’s connected platform of suppliers to quickly and efficiently send and receive digital payments through BPN’s digital lockbox. Customers also will reduce processing time and costs as they continue their migration from legacy payment types such as checks.

“We’re passionate about technology platform innovation that helps our customers pay and get paid,” said Rob Eberle, CEO, Bottomline. “Enabling complex buyer and supplier needs to accommodate all secure, digital payments includes adding interoperability with partner networks. By offering new card acceptance points via BPN, we broaden the Paymode-X network and further empower customers on their accounts payable automation journey.”

“We are pleased to welcome Bottomline Technologies to BPN,” said Flint Lane, CEO, Billtrust. “Powerful industry leaders like Bottomline strengthen and grow our network, providing expanded service to their clients, especially now with BPN’s recent addition of support for ACH and wire transactions. BPN will enhance Bottomline’s ability to maximize supplier electronic B2B payments acceptance.”

About Billtrust
Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

About Bottomline
Bottomline (NASDAQ: EPAY) makes 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.

Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the benefits and synergies that may be realized by Billtrust (“the Company”) and Bottomline Technologies as a result of the partnership. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward looking statements are subject to a number of risks and uncertainties, including those factors discussed in the Company’s filings with the SEC, including those under the header “Risk Factors” in the Registration Statement on Form S-4 filed with the SEC by South Mountain Merger Corp. on October 26, 2020, as amended. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including Billtrust’s and Bottomline Technologies’ ability to realize the anticipated benefits and synergies of the partnership. There may be additional risks that the Company presently does not know or that they currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

FAQ

What is the recent partnership involving Billtrust (BTRS)?

Billtrust has partnered with Bottomline Technologies to enhance card acceptance for Paymode-X Network customers.

How will the partnership between Billtrust and Bottomline Technologies benefit customers?

Customers will enjoy faster processing times and reduced costs by transitioning to digital payments.

When was the partnership between Billtrust and Bottomline Technologies announced?

The partnership was announced on May 12, 2021.

What does the Business Payments Network do?

The Business Payments Network streamlines digital payments and improves interoperability between buyers and suppliers.

What are the stock symbols for Billtrust and Bottomline Technologies?

Billtrust trades under the symbol BTRS, while Bottomline Technologies trades as EPAY.