PORTSMOUTH, N.H., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Bottomline, a global leader in business payments and cash management, has been named a Leader in the first IDC MarketScape: Worldwide Embedded Payment Applications 2024-2025 Vendor Assessment1. Our solution, Paymode, was made available as an embedded payments product late in 2023 and has seen rapid adoption in the marketplace. We believe this recognition caps a successful first year of market availability as an embedded offering.
Paymode enables fintechs and banks to offer access to its existing vendor base via APIs. This allows partners to easily embed Paymode into their own technology, complementing their existing offering and allowing their customers to digitally pay or receive payments from over 550,000 authenticated and validated suppliers on the network.
"Bottomline being named a Leader by the IDC MarketScape further reinforces all the reasons we chose to partner with them and embed the Paymode application in our JAGGAER Pay offering,” said Kristian O'Meara, SVP of Strategic Initiatives, JAGGAER. "We are thrilled with the payment expertise they bring to the table and the support they provide in creating customer value on the JAGGAER One platform.”
"We believe Bottomline's recognition as a Leader in the inaugural IDC MarketScape for Embedded Payment Applications affirms our commitment to helping businesses simplify, secure, and accelerate the way they pay and get paid,” said Mike Jackson, SVP of Paymode Product Management and Market Strategy, Bottomline. "By integrating Paymode, partners maintain control over their clients' experience, helping them to modernize and digitize their payments, reduce costs, and pay vendors the way they want to get paid.”
Bottomline's straightforward and user-friendly embedded payments process allows partners to receive payment instructions from their customers via API calls and then transmit that data through Paymode to enable the payment. The network manages the payments to vendors and handles any exceptions. All payment data and related rebates are sent back to the partners, who then share them with the customer.
"We have numerous banks and fintechs joining the network,” Jackson continued. "Paymode has already earned its reputation as a leading business payments network and is now expanding its role as an embedded payments application. We are excited to see our ecosystem flourishing and gaining momentum.”
About Bottomline
Bottomline helps businesses transform the way they pay and get paid. A global leader in business payments and cash management, Bottomline's secure, comprehensive solutions modernize payments for businesses and financial institutions globally. With over 35 years of experience, moving more than $10 trillion in payments annually, Bottomline is committed to driving impactful results for customers by reimagining business payments and delivering solutions that add to the bottom line. Bottomline is a portfolio company of Thoma Bravo, one of the largest software private equity firms in the world, with more than $166 billion in assets under management. For more information visit www.bottomline.com.
Trademarks
Bottomline, Paymode, and the Bottomline logo are trademarks or registered trademarks of Bottomline Technologies, Inc. All other trademarks, brand names or logos are the property of their respective owners.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.
Contact: Heather Pavliga
Bottomline
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1 IDC MarketScape: Worldwide Embedded Payment Applications 2024-2025 Vendor Assessment, doc #US51793524, December 2024 - By Jordan Steele and Kevin Permenter, IDC Research
