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Bottomline Technologies Set to Power Real-time Credit Transfers for European Banks

Bottomline Technologies (NASDAQ:EPAY), a leading provider of technology solutions to help businesses pay and get paid, has been named as a Front Runner Provider by EBA Clearing for the pan-European EBA SEPA Instant Credit Transfer Scheme.

The new Instant Credit Transfer Scheme will enable businesses and consumers to make real-time credit transfers between accounts in European countries. As a Front Runner Provider, Bottomline’s European banking clients will be amongst the first in line to benefit from the scheme when it goes live in November 2017.

The payment gateway to the scheme will be incorporated into Bottomline Technology’s Universal Aggregator service, the only one of its kind to support the most common types of payments for multiple payment service providers, including the Faster Payment Service. It offers banks, corporates, governments, and non-financial banking institutions an easy way to access a range of payment clearing and settlement systems around the world, without the need for individual systems and relationships.

The Bottomline Universal Aggregator™ was recently awarded “Best Instant Payment Service Initiative” by Banking Technology. 

As Bottomline’s aggregator service is scalable, full access to the Instant Credit scheme will be available to organizations of all sizes, from small and challenger banks, to large global banking institutions.

Ed Adshead-Grant, General Manager, Payments at Bottomline said, “Our customers will benefit enormously from the Aggregator’s Front Runner status. They will soon be able to add real-time credit transfers to our highly cost effective, ‘plug-and-play’ way of accessing global clearing and settlement systems that can be managed as a single service.”

Bottomline Technologies (NASDAQ:EPAY) helps businesses pay and get paid. We help our customers to make complex business payments simple, secure and seamless.

Businesses and banks rely on Bottomline for domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review and state of the art fraud detection, behavioural analytics and regulatory compliance.

While consumer payments are ubiquitous and frictionless, business payments can still be obscure and counter-intuitive. The inherent complexities of larger transaction volumes, proliferated ledgers and regulatory oversight have held back B2B payments. But it doesn’t have to be that way. Bottomline exists to delight our customers, by overcoming friction and making the complex, simple.

Headquartered in Portsmouth, New Hampshire, we delight our customers through offices across the United States, Europe, and Asia-Pacific.

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. Every day, we help our customers by making complex business payments simple, secure and seamless.