Stock Watch: Citibank Agreement Boosts Bottomline

Bottomline Technologies (Nasdaq: EPAY) rose 1 15/16 to 36 3/4 in early trading Tuesday. The company, which provides Internet billing, payment and electronic banking software, said Citigroup’s Citibank Global Cash and Trade Division will market its NetTransact invoice presentment and payment system as a component of its electronic-billing service.

Citibank will market the service to its Fortune 1000 customers in the United States and Canada, and aims to “capture the leading position in the growing B2B e-commerce space,” Bottomline said. “Today’s endorsement of Bottomline by Citibank, the largest commercial bank in the world, confirms our position as the market leader in B2B electronic bill presentment and payment,” said Bottomline President and CEO Dan McGurl.

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