Paymode-X Expands Network with Billtrust’s Business Payments Network
May 12 2021 - 8:00AM
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that are outdated, inefficient, manual and largely paper based.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 StatementsThis 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.
Contact:
Meredith Simpson
msimpson@billtrust.com
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