Bottomline Technologies unveils ‘change underway in the UK payments market’

A leading provider of financial technology today announced the release of enhanced application programming interfaces (APIs) for its PT-X payments platform.

Bottomline Technologies PT-X payments and business solution suite is a cloud-based platform that is widely used by companies across the UK to operate their accounts payable, accounts receivable and payroll operations.

The cloud-based suite enables banks and businesses to connect to various payment schemes in the UK such as Bacs Direct Credit, Direct Debit and Faster Payment Services.

‘Enhanced APIs’

“Whilst our APIs have been in use for many years, we are always raising the game to lead the market and ensure our clients, banking partners and developer communities find our technology simple to use and can easily integrate it within their own environments,” said Nigel Savory, Managing Director, Bottomline Technologies.

The APIs enable “flexible, frictionless” access to the Bottomline Technologies PT-X platform.

Additionally, the enhanced APIs will enable corporations and banks to move away from legacy payment technology with a “quicker, more cost-effective” migration path that is seamless to users, as well as offers feature-rich payment processing functionality.

New Payments Architecture

“With the amount of change underway in the UK payments market, the recent introduction of Open Banking and the New Payments Architecture in the works, it is vital that our solutions remain flexible, comprehensive and, most importantly, help to futureproof our customers’ businesses,” added Savory.

“As industry initiatives are introduced, our aim is to ensure our customers and partners are able to take advantage of new functionality quickly and effortlessly.”

The solution also offers additional value-add modules which includes financial document automation, direct debit lifecycle management, and payment fraud risk management.

Written from press release by Leah Alger