NACHA has revealed news that B2B payments company Bottomline Technologies is its newest partner.
In an announcement made Wednesday (Nov. 29), NACHA said Bottomline Technologies Paymode-X has been chosen as its Preferred Partner for Business-to-Business Payments. Preferred Partners are collaborators that work with NACHA on payments innovation and exploration of removing friction in ACH payments, NACHA explained.
“We are pleased to introduce Bottomline Technologies as our Preferred Partner,” said NACHA Chief Operating Officer Jane Larimer in a statement. “The world of payments is evolving. Payments are moving faster and are increasingly electronic.”
“However,” continued Larimer, “B2B payments have not evolved at the same pace as other types of payments, because they can be more complex. Through its business-targeted solutions, Bottomline Technologies is supporting the electronification of B2B payments — improving efficiencies, increasing savings and enhancing security. It is through solutions like Bottomline Technologies Paymode-X that B2B payments can begin to keep pace with the rapidly evolving payments landscape.”
Bottomline Technologies launched Paymode-X, a B2B payments platform and electronic invoicing (eInvoicing) solution to facilitate transactions between trading business partners, in 2010. The company has since expanded the platform; in 2016, it announced an integration with Mastercard In Control for Commercial Payments, which enables businesses on the Paymode-X platform to have the option of card payments for their B2B transaction needs.
“Payments are a part of every business,” said Bottomline Technologies General Manager, Cloud Payment Solutions, Jessica Moran in a statement. “Making that payment process as smooth and seamless as possible is our number one priority. As a NACHA Preferred Partner, we can bring a more simplified payment process to even more businesses, supporting the overall advancement of B2B payments.”