Bottomline Technologies, which offers solutions such as accounts payable (AP) automation, will link Paymode-X payers to new card acceptance endpoints through Billtrust’s Business Payments Network (BPN), according to a Wednesday (May 12) announcement.
Billtrust, for its part, offers accounts receivable (AR) automation. Its BPN “makes accepting electronic payments easy,” according to the firm’s website.
“By offering new card acceptance points via BPN, we broaden the Paymode-X network and further empower customers on their accounts payable automation journey,” Bottomline CEO Rob Eberle said in the announcement.
Using BPN’s digital lockbox, clients of Bottomline now have the ability to harness BPN’s network of vendors to expediently and effectively transmit electronic payments. And, as clients move away from legacy payment methods like checks, they will cut processing time and expenses, according to the announcement.
“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 [automated clearing house] and wire transactions,” Billtrust CEO Flint Lane said in the announcement.
Lane also said in the announcement that BPN will bolster Bottomline’s capacity to have the highest possible vendor digital corporate payments acceptance.
The news comes as REPAY Holdings Corporation has linked its systems with Billtrust. The link between the two companies will bring REPAY’s reach to thousands of more suppliers on the BPN. That action streamlines the payment process for vendors in addition to purchasers while letting the transmission of payments to occur via preferred formats such as virtual credit cards.
“The service and supplier industry has seen an acceleration in adoption and preference of digital payments to streamline efficiencies and reduce costs related to the invoice-to-cash process,” Nick Babinsky, senior vice president and general manager of the Business Payments Network at Billtrust, said in a January announcement.
Babinsky pointed out at the time that the relationship was a “natural fit” when considering REPAY’s payment automation technology and virtual card capacities.
May 13, 2021 at 01:39AM