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."