Authenticate Vendors Before Enrollment Before a vendor is accepted into the network, they're validated and authenticated against over 300 data points, giving manufacturers confidence that their payments will go to a confirmed business and account. Because about half of an organization's vendors are already enrolled in the network, many manufacturers can immediately accelerate their changeover from manual to automated payment processes, and Paymode will work to enroll the rest of your vendor community.
Protect Against Fraudulent Account Changes Fraudsters frequently target vendors to steal user credentials or impersonate authorized contacts, allowing them to redirect payments. Paymode uses step-up authentication to protect high-risk account actions, with measures that include multi-factor authentication, biometrics, passkeys, and AI-aided pattern recognition to help ensure that only authorized users can make these changes.
Monitor for Suspicious Activity The network is continuously monitored for activity that may indicate fraud. Paymode combines machine learning, risk signals, and human expertise to identify and halt suspicious vendor activity, account changes, login attempts, and other anomalies that might lead to fraud losses.
Peace of Mind Manufacturers can make payments in an authenticated network with fewer manual steps and less exposure for sensitive banking data, helping to prevent fraud and keep vendor data safe. That in turn means improved security while reducing the time, cost, and operational friction associated with in-house payment processes for manufacturers.
