Bottomline
NASDAQ : EPAY

October 04, 2005 08:29 ET

Bottomline Technologies and Travelex Announce Strategic Partnership; Cross-selling Initiative Provides Customers with Advanced Global Payment Solutions

PORTSMOUTH, N.H. and TORONTO--(CCNMatthews - Oct 4, 2005) -

Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, and Travelex, the world's largest non-bank international payments specialist, today announced a strategic technology and marketing partnership to cross-sell foreign exchange services and global payment technology solutions.

Emerging messaging standards, increased emphasis on regulatory compliance and general cost awareness are creating a more complex global payments landscape. As a result, many organizations are actively pursuing vendor relationships that deliver broader business value and greater levels of payment processing efficiency. Working collaboratively to cross-sell foreign exchange services and global payment technology solutions will enable Travelex and Bottomline to provide customers with a single, Web-based point of access for rapid initiation, control, and disbursement of both global and domestic electronic payments.

"This partnership with Bottomline Technologies is an extension of our existing value proposition as a "one-stop-shop" for international and domestic payments. This integrated service approach is unique in the payments industry," said Yogesh Shetty, Group Director, Commercial Foreign Exchange, Travelex. "We do not see ourselves as competitors in this market, but rather as facilitators for our customers, providing access to virtual global payment networks."

The strategic technology and marketing partnership builds on Bottomline's existing customer relationship with Travelex. Travelex utilizes WebSeries®, Bottomline's payments automation platform, to provide its customers with Web-based approval, submission and monitoring capabilities for different types of inbound and outbound commercial foreign exchange payments.

"As the customers we serve increasingly expand their business operations worldwide, we are committed to providing the innovative products and services that will help them to attain their strategic objectives," said Joe Mullen, CEO of Bottomline Technologies. "Through this partnership between Travelex and Bottomline, our customers will be able to complete secure, accurate and affordable business payments quickly and easily to anywhere in the world."

About Travelex

Travelex is the largest non-bank provider of commercial foreign exchange services, providing integrated payment solutions for business customers globally. The Group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions. In addition, Travelex operates over 700 retail foreign exchange branches around the world. For additional information, see www.travelex.com.

About Bottomline Technologies

Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organizations seeking more secure and efficient financial processes. The company remains at the forefront of delivering innovative solutions that complement and extend the value of existing financial processes, business relationships and back-office systems. These solutions have enabled the world's leading corporations, banks and financial institutions to automate, manage and control processes involving payments and collections, invoice approval, cash flow, risk mitigation, reporting and document archive. For more information, please visit www.bottomline.com.

Bottomline Technologies, WebSeries and the BT logo are registered trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders.

Cautionary Language

This press release may contain forward-looking statements that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2005, Form 10Q filed May 2005 and any recently filed Form 8K's.

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