Skip to main content

Bottomline Announces Acquisition of Bora Payment Systems

Written by Customer Service on . Posted in Mergers And Acquisitions.

Straight through processing capabilities added to Paymode-X Network

PORTSMOUTH, N.H. , Nov. 09, 2021 (GLOBE NEWSWIRE) — Bottomline (NASDAQ: EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced that it has completed the acquisition of Bora Payments Systems, enabling Paymode-X vendors to utilize straight through processing (STP) as a method of accepting virtual card payments. The combination adds new bank channel relationships to Paymode-X and capabilities that improve the network’s virtual card program, an important revenue driver for Paymode-X.

Today, most virtual card payments are delivered through encrypted email or via secure portal access. This manual task can become expensive and burdensome as a vendor accepts higher volumes of virtual card payments from their customer base. Virtual card payments made via STP are processed directly to the vendor’s bank account while delivering rich remittance data. That results in savings of both time and effort, as well as reduced card acceptance costs, for vendors with high volumes of virtual card payments.

“For more and more customers and channel partners, the ultimate digital transformation of payables requires a comprehensive strategy for all payments—domestic, international, B2B and B2C,” said Tom Dolan, General Manager, Paymode-X, Bottomline. “Today, however, the card payment piece of the equation can be inefficient and cumbersome. For vendors, these new STP capabilities eliminate manual processing associated with virtual cards, shorten their invoice-to-cash cycle and optimize acceptance economics. For payers, they help improve relationships with suppliers, providing them with more payments acceptance options that offer great efficiency and cost-effectiveness.”

The transaction was structured as an asset purchase for $15 million in cash, and is not expected to have any material impact on Bottomline’s previously issued financial guidance.

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.

Media Contact:

John Stevens
Bottomline
pr@bottomline.com
1 (978) 914-0735

Jacqueline Powell
Bottomline
pr@bottomline.com
0044 789 4256448

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.