Wednesday 17th October, 2012

Bottomline Technologies, has announced that its business-to-business settlement network, Paymode-X, has surpassed 200,000 members actively exchanging electronic payment and remittance data.

The Paymode-X network growth is due to the many benefits it provides to both payers and vendors. Payers accelerate the conversion of paper to electronic payments and optimise working capital. Vendors enjoy predictability of cash flow, unlimited digital remittance information and a streamlined receivables process.

Paymode-X is an established community of enrolled members representing a cross-section of industries: healthcare, manufacturing, insurance, real estate, wholesale and retail trade, consumer and business services, public administration and more.

Rob Eberle, President and CEO of Bottomline, said, “The achievement of this important milestone confirms the unique and innovative value of Paymode-X.

He Added, “We are committed to driving the continued growth of this strategic platform for our clients and partners.”

Paymode-X supports 23 currencies spanning more than 30 countries and is used by travel companies to send electronic commission payments and remittance detail to their agents around the globe.