Printer Friendly
The Free Library
19,607,059 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Bottomline Enables Corporate Clients to Cut Costs with Faster Payments.


Bottomline Launches Near Real-time Faster Payments Solution for Direct Corporate Access to UK's New Payment System

PORTSMOUTH, N.H. -- Bottomline Technologies (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: EPAY) a leading provider of collaborative payment, invoice and document automation solutions, today announced that the company's new Faster Payments solution has been used to make the industry's first successful live, direct submission of a corporate Faster Payment into the Direct Corporate Access service.

Bottomline's Faster Payments solution, which is now available, provides corporations with direct access to the new near real-time payments system in the UK. Through the use of this solution businesses can streamline their payments and dramatically reduce bank fees on same-day payments for up to 10,000, representing a fraction of the cost of sending payments by CHAPS See Clearing House Automated Payments System. , the UK's RTGS RTGS Real Time Gross Settlement
RTGS Real Time Gross Settlement System
 payment system.

Faster Payments is a new payment instrument in the UK, launched in May 2008, and available initially via e-banking and phone banking to consumers and corporations. Direct Corporate Access to Faster Payments was recently launched as an enhancement of the Faster Payments system, allowing high volumes of Faster Payments to be managed in a similar way to Bacs, the UK's ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to , which enables businesses to submit payment files directly to the ACH, instead of via banks.

"By integrating Faster Payments onto a single platform with our market-leading Bacs and check solutions, we are able to offer our customers maximum flexibility and efficiency in their payments solutions," said Nigel Savory savory, name for any plant of the genus Satureja, aromatic herbs and subshrubs of the family Labiatae (mint family). Commonly cultivated as border ornamentals or potherbs are two species of the Mediterranean region and surrounding areas: summer savory (S. , Managing Director, Bottomline Technologies Europe. "Being the first solution provider to enable a corporate customer to make a payment into the new Direct Corporate Access service of the Faster Payments system is highly fitting for Bottomline, reflecting our leading position in the UK payments market."

The launch of Bottomline's Faster Payments solution coincides with the central Direct Corporate Access hub managed by Vocalink now being fully operational. Initially rolled out by Barclays, Direct Corporate Access allows corporations to send single or bulk payments of less than 10,000 per item directly into the Faster Payments Direct Corporate Access service for payment within 2 hours. The Direct Corporate Access version is a sister service to the UK Bacs corporate payment channel, used by 30,000 corporations to send payment data for clearing.

"Bottomline is the leading provider of Bacs payment solutions in the UK, with the highest market share," said Savory. "The launch of Faster Payments using Direct Corporate Access offers corporate customers an exciting and cost-effective alternative to the 3-day clearing cycle associated with Bacs, the UK ACH service, and the RTGS CHAPS real-time service."

Calculate the Environmental Savings

To help raise awareness of the environmental benefits achieved by transitioning from paper to electronic processing, Bottomline has posted a green savings calculator calculator or calculating machine, device for performing numerical computations; it may be mechanical, electromechanical, or electronic. The electronic computer is also a calculator but performs other functions as well.  on its Web site at: www.bottomline.com/gogreen.

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company's solutions are used to streamline, automate and manage processes involving payments, global cash management, transactional documents and invoice approval. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Bottomline also maintains offices in Europe and

Asia-Pacific. For more information, visit www.bottomline.com.

Bottomline Technologies and the BT logo are trademarks of Bottomline Technologies (de), Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders.

Cautionary Language

This press release may contain "forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee.  and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 filed September 2008, Form 10-Q Form 10-Q

See 10-Q.
 filed May 2009 and any recently filed Form 8-Ks Form 8-K

The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.


Form 8-K

See 8-K.
. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
COPYRIGHT 2009 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 20, 2009
Words:716
Previous Article:Visionet Systems Announces the Availability of Tools to Convert Lotus Notes Content and Application to Microsoft Sharepoint (MOSS).
Next Article:Gabelli Global Deal Fund Declares Third Quarter Distribution of $0.32 Per Share.



Related Articles
Royal Trust Global Securities Services Expands eCustody Platform Through Bottomline's BankQuest.
Payment management.
Bottomline Technologies Explores Business Value of Straight-Through Payment Processes.
Bottomline Technologies Introduces WebSeries(R) Remote Hub; Expansion of Banking Platform Offers Users Secure, Unattended Transaction Communication.
Bottomline Technologies Enhances WebSeries(R) Global Cash Management Platform with Expanded Functionality for Payments Processing.
Bottomline Expands Support for Service Oriented Architecture Within Global Cash Management Platform.
Bank of America and Bottomline Technologies Form Strategic Relationship for Electronic Payment and Invoice Network.
Bottomline Launches Real-time Dashboards to Streamline Corporate Cash Management.
Bottomline Enhances WebSeries[R] Global Cash Management Platform with Advanced Functionality for Cash Reporting.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles