Bottomline granted three payments patents
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today announced that it has been granted three technology patents by the United States Patent and Trademark Office.
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The patented capabilities address safeguards against payment fraud and increased operational costs by introducing greater levels of security, efficiency and control into the payments process.
In receiving these patents, Bottomline further strengthens its position and competitive differentiators within the corporate payments and banking sectors. The patents announced today address payment security methodologies leveraged by Bottomline and include advanced capabilities for preventing check fraud and enabling the secure authorization of electronic disbursements by validated users throughout the enterprise.
Through the use of Bottomline's payments and invoice automation solutions, organizations can quickly transition from paper-based financial processes to more efficient, secure and cost-effective electronic methods. In choosing to deploy Bottomline's solutions, organizations can streamline, monitor and control the entire payables cycle from a single technology platform.
"Securing the intellectual rights to payments automation functionality is an important factor in solidifying our competitive position within the marketplace, and with our current application pipeline we anticipate our portfolio will continue to grow," said Gareth Priest, Vice President of Global Product Management for Bottomline Technologies. "Payments security is an area of concern for organizations large and small, and the capabilities represented by these patents enable our customers to take added measures to prevent payments fraud."