Bottomline Opens Access to ACH Supplier Network

Bottomline, a leading figure in business payments worldwide, has announced that its B2B payment network will now be accessible to approved financial institutions, fintechs, and other entities seeking to enhance payment acceptance. This marks the first instance of the company opening access to its proprietary Premium ACH supplier network.

A New Milestone for Bottomline

The move is another milestone in Bottomline’s journey to revolutionize business payment methods. Partners can now connect to over 550,000 authenticated and validated suppliers on Bottomline’s expanding network. This connection allows for high-end, rebate-friendly ACH payments, supplementing existing virtual card programs and generating new revenue streams.

Bottomline offers its network as a service solution. This recent innovation allows financial institutions, fintechs, and others to grow their payment networks, resulting in several benefits. These include enhancing accounts payable automation and facilitating effortless network expansion for their customers, the payers.

Benefits for Payers and Suppliers

With a broader network, payers can digitize more of their accounts payable files, leading to increased automation, more rebates, and improved security. These factors contribute to significant time savings, improved cash flow, and reduced risk. Suppliers on the network stand to benefit from receiving more digital payments, which means less portal fatigue, lower payment acceptance costs, and reduced risk.

Andrew Bartolini, Founder and Chief Research Officer at Ardent Partners, commented on this development. He said that opening the payment network to new partners presents a substantial opportunity for financial institutions and technology providers to deliver a leading payments solution. This solution would aid their customers in automating the last mile of their B2B transactions.

Craig Saks, President and CEO at Bottomline, echoed Bartolini’s sentiments. He stated that opening Bottomline’s business payment network signifies the role it plays in expanding a connected ecosystem. It helps banks and fintech partners across the system to expand their corporate payments’ reach and offer more access to more suppliers without the need for additional investment to achieve scale.

Bottomline’s Paymode-X business payment network is currently available for connection.