{"id":523768,"date":"2021-11-10T09:25:18","date_gmt":"2021-11-10T09:25:18","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=523768"},"modified":"2021-11-10T09:25:18","modified_gmt":"2021-11-10T09:25:18","slug":"bottomline-announces-acquisition-of-bora-payment-systems","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/bottomline-announces-acquisition-of-bora-payment-systems\/","title":{"rendered":"Bottomline announces acquisition of Bora Payment Systems"},"content":{"rendered":"

\"Bottomline,Bottomline, a leading provider of financial technology<\/a> that makes complex business payments simple, smart<\/a>, and secure, recently 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\u2019s virtual card program, an important revenue driver for Paymode-X.<\/p>\n

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\u2019s 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.<\/p>\n

\u201cFor more and more customers and channel partners, the ultimate digital transformation of payables requires a comprehensive strategy for all payments\u2014domestic, international, B2B and B2C,\u201d said Tom Dolan, General Manager, Paymode-X, Bottomline. \u201cToday, 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.\u201d<\/p>\n

The transaction was structured as an asset purchase for $15 million in cash and is not expected to have any material impact on Bottomline\u2019s previously issued financial guidance. Bottomline 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.<\/p>\n","protected":false},"author":35276,"featured_media":523772,"parent":0,"template":"","categories":[11384],"tags":[19489,13748,11515,19490,19491,11416,19492],"class_list":["post-523768","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-payments","tag-bora-payments-systems","tag-bottomline","tag-fintech","tag-paymode-x","tag-stp","tag-usa","tag-virtual-card-payments"],"acf":[],"yoast_head":"\nBottomline announces acquisition of Bora Payment Systems<\/title>\n<meta name=\"description\" content=\"Bottomline, a leading provider of financial technology that makes complex business payments simple, smart, and secure, recently announced...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/bottomline-announces-acquisition-of-bora-payment-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bottomline announces acquisition of Bora Payment Systems\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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