Our latest insights

Bottomline acquires Bora Payment Systems

Share this post

Bottomline Technologies
Bottomline acquires Bora Payment Systems

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.

More To Explore

Login or Register

Don't have an account?

Are you part of the Payments Association community?

Not yet set up your login for the Payments Association Community Platform? Set it up now

Set up a free account for instant access to our content

You don’t need to be an Payments Association member to view the majority of our content. Simply enter your details below once to set up your login details and get access to our library of whitepapers, podcasts, consultation papers, webinars and more.

First Name*
Last Name*
Company Name*
Job Title*
Business Email Address*
Confirm Password*
The Payments Association exist to help drive the industry forward. As such the Payments Association may contact you about any future content or events that we think you may have a legitimate interest in. We will store your information securely and will never share your details with third parties other than the relevant resource(s) sponsor(s)/curator(s). You may opt out at any time. By clicking register you are agreeing to the terms of our Privacy Policy.

← back