Bottomline teams with digital bank on real-time payments system

New service will allow 24/7 instant payments in U.K.

Portsmouth-based Bottomline Technologies is teaming up with a digital bank to launch a real-time payments service that will allow businesses and banks to send and receive payments to any bank account in the United Kingdom.

Bottomline and U.K.-based Starling Bank unveiled the launch of their Real Time Payments Express Service on June 17.

“Real-time payments are becoming the new norm around the world. In the U.K., where the faster payments scheme has enjoyed over a decade of growth, we have the technology needed to allow more participants to gain the benefit of full access to 24/7 instant payments. Our new solution partnered with Bottomline delivers exactly this,” said Julian Sawyer, Starling Bank’s head of banking services.

According to Nigel Savory, Bottomline’s managing director of Europe, “there is real transformation coming into the U.K. which gives rise for innovative partnership approaches like our Real Time Payments Express.”

Bottomline shares were selling at $46.05 at the close of trading on Wednesday, up nearly $2 since the announcement.