B2B Payments

Mastercard Links Virtual Cards Into Bottomline

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B2B payments firm Bottomline Technologies has announced a new integration to support payments using Mastercard virtual card technology.

An announcement Tuesday (Oct. 18) said Bottomline is integrating Mastercard In Control for Commercial Payments into its payment platform Paymode-X.

“We’re proud to partner with one of the world’s leading payment networks,” said Bottonline Technologies President and CEO Rob Eberle in a statement. “The strategic alliance announced today provides new innovative capabilities to our Paymode-X membership, while moving us another meaningful step closer to our goal of being the way businesses pay and get paid.”

Paymode-X, launched in 2010, is a B2B payments network that includes the firm’s electronic invoicing service, helping businesses automate their accounts receivable and accounts payable processes. The platform is a network of partnerships with financial services players. Last year, Bottomline announced Fifth Third Bank as a new partner.

In its announcement, Bottomline said adding Mastercard’s virtual card tool into the mix “creates a simple, secure and seamless way for businesses to make and receive payments.”

Mastercard, meanwhile, has made its own moves to broaden its B2B payments reach. Last month, the credit card company announced a new mobile app in Hong Kong to support B2B trade and payments via the Mastercard Commercial Network App. The solution links with Mastercard Commercial Cards and supports supplier payments on the mobile platform.

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