The partnership enables Coupa to integrate with Paymode-X, Bottomline's business payments network offering Premium ACH, facilitating automated payments from buyers to suppliers. Coupa Pay, a unified platform for managing business payments across different countries and currencies, will leverage Bottomline's Premium ACH offering to optimise payment stacks for customers. The use of Premium ACH is expected to enhance payment security, increase payment rebates, and improve the overall source-to-pay experience for users. Notably, Premium ACH integration does not require additional data or technology integration.
By leveraging the fraud prevention capabilities of the Paymode-X network, Coupa Pay aims to enhance security for payments made to suppliers who prefer Premium ACH as a payment method. Premium ACH provides suppliers with enhanced data, reconciliation information, and reporting, potentially lowering their cost of payment acceptance and strengthening relationships between payers and suppliers.
In the company press release, officials from Bottomline expressed enthusiasm about the partnership, highlighting the simplification of payment processes for buyers and suppliers. In turn, Coupa officials emphasised the optimisation of payment processes and the resulting business benefits at scale.
The partnership marks the first collaboration launched through Bottomline's network-as-a-service solution, announced in October 2023. This solution opens Bottomline's Paymode-X network, comprising over 550,000 authenticated suppliers, and its proprietary Premium ACH payment type to Coupa Pay customers. Coupa Pay with Paymode-X is expected to be generally available in May 2024.
Coupa offers solutions in total spend management, leveraging community-generated AI and platforms to empower businesses with smarter, more profitable decisions.
Bottomline specialises in business payments and cash management, and it is committed to modernising payments for businesses and financial institutions worldwide.
In March 2024, Singapore-based payment institution FOMO Pay announced a partnership with Bottomline to enhance its compliance and cash management capabilities. By integrating Bottomline's solution into its operations, FOMO Pay intended to improve payment workflows, treasury management, and regulatory compliance. The collaboration reflected FOMO Pay's ongoing commitment to streamlining financial processes and strengthening compliance measures through advanced technologies.
The implementation of Bottomline's solution by FOMO Pay was aimed at automating processes to enhance cash and liquidity management efficiency while ensuring compliance with regulatory standards. By leveraging new technologies, FOMO Pay wanted to reduce manual efforts, centralise account insights, and optimise financial processes for improved efficiency and compliance.
For more information about Bottomline, please check out their detailed profile in our dedicated, industry-specific Company Database.
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