Bottomline Technologies Embraces New Standards
(Thomson Reuters ONE) -
Simple, Smart, Secure Solutions Enable Businesses to Benefit from Open Banking
and PSD2
PORTSMOUTH, N.H., Oct. 05, 2017 (GLOBE NEWSWIRE) -- Bottomline Technologies,
Inc. (NASDAQ:EPAY), a leading provider of financial technology that helps make
complex business payments simple, smart and secure, is at the forefront of
helping organizations of all sizes take advantage of the new and evolving
payment regulations in the UK, Europe, and beyond. Bottomline announces its
commitment to becoming a Third Party Provider (TPP) under the Open Banking
initiative, allowing its customers to access information and initiate payments
directly with participating banks through secure Application Programming
Interfaces (APIs), via its cloud-based payment platform.
Open Banking is an initiative driven by U.K. regulators to improve competition
and innovation in the payments industry.
"Open Banking will change the market radically for UK payments," said Nigel
Savory, Managing Director, Global Business Solutions, Bottomline Technologies.
As soon as January 2018, Open Banking will impact the way payments are managed
in the U.K. The second Payment Services Directive (PSD2) legislation will follow
with a similar intent of improving competition and innovation in European
payments. Open Banking and PSD2 will require banks to provide open system access
allowing businesses of all sizes to better manage their accounts and payments
through secure APIs.
"Whilst many established corporates have access to incumbent payment services,
the ongoing economic shift to subscription models brings with it challenges that
some businesses face," said Savory.
"The current model of gaining the necessary bank sponsorship or relying on
services such as recurring card collections can carry significant fees for
businesses and consumers," said Savory.
Open Banking allows any business equal access to account data and payments in
new ways that will be a catalyst for innovation. Bottomline will use the newly
developed Open Banking APIs and solutions in payments to ensure businesses of
all sizes can pay and get paid, simply and securely. Bottomline's focus on Open
Banking will also help businesses beyond the U.K.
"The important regulatory changes in European payments are likely to entail
similar standards and business models to those being pioneered in the UK," said
Jon Rushton, Commercial Product Director, Global Business Solutions, Bottomline
Technologies.
"Bottomline will be here to support businesses and provide solutions as those
challenges arise as well," said Rushton.
About Bottomline Technologies:
Bottomline Technologies (NASDAQ:EPAY), an innovator in business payment
automation technology for more than 30 years, helps make complex business
payments simple, smart, secure. While consumer payments are ubiquitous and
frictionless, business payments are often still obscure and counter-intuitive,
held back by their inherent complexities of larger transaction volumes,
proliferated ledgers and regulatory oversight. But it doesn't have to be that
way!
Corporations and banks worldwide overcome that friction by relying on Bottomline
for domestic and international payments, efficient cash management, automated
workflows for payment processing and bill review and state of the art fraud
detection, behavioral analytics and regulatory compliance. Businesses around the
world depend on Bottomline solutions to help them pay and get paid, including
some of the world's largest systemic banks, private and publicly traded
companies and Insurers.
Headquartered in Portsmouth, New Hampshire, we delight our customers through
offices across the United States, Europe, and Asia-Pacific.
For more information, visit:
www.bottomline.com
LinkedIn: https://www.linkedin.com/company/6001
Twitter: https://twitter.com/BottomlineEMEA
Media Contact:
Gemma Waite
Director, Marketing Communications
Bottomline Technologies
603.501.6537
gemma.waite(at)bottomline.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bottomline Technologies, Inc. via GlobeNewswire
Datum: 05.10.2017 - 17:11 Uhr
Sprache: Deutsch
News-ID 562659
Anzahl Zeichen: 4914
contact information:
Town:
Portsmouth, NH
Kategorie:
Business News
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"Bottomline Technologies Embraces New Standards"
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