Bottomline will serve travel clients through PayMode, an electronic network for payment and invoice automation that it acquired from Bank of America last year.
The acquisition builds on the strategic work Bank of America and Bottomline have forged to leverage the strengths and technologies of each. Under the agreement, Bank of America will continue to provide commission service to clients until their transition to PayMode.
Clients will receive the same levels of customer service and functionality they’re accustomed to, as well as gaining remittance reporting, enhanced delivery capabilities, and the ability to pay other suppliers within PayMode’s network of more than 90,000 members.
Bob Johnston, senior vice president and product management executive of Bank of America, said: “We believe these travel and hospitality industry companies and the agents that book for them will be pleased with the commission payments services Bottomline Technologies will provide them. Working with Bottomline over the years as a provider of technology to the bank has given us confidence in its ability to deliver solutions that add value for clients.”
Rob Eberle, CEO of Bottomline Technologies, said: “We look forward to welcoming these new clients to Bottomline and are fully committed to their success. The acquisition of this travel commission payments service provides a natural extension of our Paymode platform’s capabilities and is another important milestone in our long relationship with Bank of America.”
Until the transition is complete, projected for late 2010, Bank of America will continue to provide service to the travel commission clients.
