Make and receive secure and convenient electronic payments using a solution trusted by 550,000+ member businesses.
We are sincere when we say that your vendor relationships matter to us. The Paymode-X team will work with you to define a vendor enablement plan that fits your business culture. We’ll then work on your behalf to recruit and onboard more of your vendors with outreach across phone, mail, email, and social media touchpoints that are in-line with your preferences.
We’ve heard far too many stories about how other solution providers strong-arm vendors with aggressive heavy-handed tactics and often they do not provide vendors with a choice of payment types. With Paymode-X as your business partner, you can be confident that your vendors will be treated with the courtesy and respect they deserve.
Security is paramount for AP, and that means both security for your business and security for your vendor’s business. The fraud prevention provided by Paymode-X has successfully blocked hundreds of attempts to intercept high value payments and protected over $400 billion in AP payments annually.
Paymode-X delivers peace of mind above and beyond what you will realize from other digital payment solutions. We minimize the risk of payment fraud associated with data breaches and other attacks, not to mention completely eliminating the risks that are inherent to paper checks. Paymode-X also provides comprehensive user behavioral monitoring and payment risk scoring to allow you to identify red flags or anomalies that could indicate possible fraud attempts before they occur.
Unfortunately, fraudsters have successfully penetrated other payment networks. For example, a quick google search for “Sport Clips payment fraud” will show you how fraud impacted an organization’s B2B payments.
There are two major reasons why you will earn more rebates using Paymode-X to pay vendors than with other solutions. First, Paymode-X offers a higher rebate percentage on ACH and virtual card payments compared to what other payment networks offer. Second, Paymode-X retains well over 90% of our vendors and we add new businesses to our network every week. All of this means more electronic payments to your vendors and greater rebate earning potential for you.
Paymode-X is the largest B2B electronic payment network with 550,000+ vendors accepting virtual card and ACH payments per year.
Be on the lookout for other technology providers inflating the scale of their payment network by including hundreds of thousands of vendors who only accept payments by paper check. In some cases, these check-only vendors comprise the majority of other solution provider’s touted network size.
Yes, the Paymode-X network also includes vendors that only accept check payments, but we don’t include those approximately one million check-only vendors in the published size of our digital payment network. You can rest assured there are hundreds of thousands of businesses ready to be paid securely and electronically through Paymode-X.
Accounts payable organizations have been paying their vendors over the Paymode-X network for over a decade. Last year alone, $400 billion in ACH and virtual card payments were made to vendors and suppliers through our network.
Not only does Paymode-X boast the most electronic-paying vendors, but we also process more dollars digitally than other B2B payment networks every year. This is a key reason why Paymode-X was recently named a “Market Leader” by Ardent Partners in their 2023 ePayables Technology Advisor report.
It’s no secret that maximizing cost savings and streamlining the AP process means adopting an integrated payment strategy that combines ACH, virtual card, and check payments, as well as business-to-consumer payments.
The Paymode-X approach streamlines payment processing and reconciliation and allows you to adopt a flexible payment strategy that aligns with different use cases, vendor preferences, and global payment needs. You gain the agility to adapt as your business evolves and grows.
Be wary of other payment solutions that either don’t offer the full breadth of payment types or push to use the payment method that makes them the most money, rather than the one you or your vendors prefer. You’ll be surprised how few payment solutions even offer business-to-consumer or international payments.
It would be great if all B2B payments were made electronically, but we know that’s not always possible because some vendors still insist on being paid by check. For this situation, Paymode-X offers check payment options that allow you to outsource check printing and mailing, or a managed check service that covers the entire end-to-end check process if you prefer.
Either way, rest easy knowing that Paymode-X will mail your check payments the next business day and your vendors will typically receive payment in less than a week. Compare that to the 2-3 weeks for vendors to receive checks that are sent to them from other payment vendors and you can see the advantage.
Many organizations use Paymode-X to automate the entire invoice-to-pay process. Invoice automation is a strength of Paymode-X and an area we stand out compared to other AP solutions across the complete invoice lifecycle.
Paymode-X features a next generation image and data capture platform powered by machine learning for seamless invoice receipt, storage, and processing of both purchase order and non-purchase order invoices from any authorized source.
Our solution also allows you to automate 2-way and 3-way reconciliation with both PO header and line-item capture and matching, whereas many other solutions are limited to PO header-level only. Invoice risk scoring uses custom intelligent business rules to help identify unusual and potentially fraudulent invoices. In addition, Paymode-X invoice automation capabilities are homegrown and not outsourced like what you’ll find stapled onto many other providers’ offerings.
Paymode-X represents an entirely new stratosphere of supplier visibility, especially when compared to other solutions. With the modern, customizable dashboard, both accounts payable users and leaders can choose the information they want displayed to ensure they always have the data they need at hand.
The “My Vendors” tab inside the sleek Paymode-X interface is designed to provide easy access to critical data like network enrollment status, accepted payment types, early payment discount availability, payment history and annual spend. This improves efficiency by arming each member of your team with the information they need to better manage suppliers, payments, reporting, and cash flow planning.
It may surprise you to know that we have a team of approximately 140 Paymode-X employees focused on helping our customers achieve full value from using Paymode-X. This team will take care of everything from getting you up and running quickly to driving automation and optimizing your payment strategy all while providing strategic guidance for your ongoing success.
With a dedicated Client Success Manager who will work with you to maximize your vendor adoption and rebates, plus ongoing interactions and access to our Implementation, Enablement, Card, and Member Services teams, you’ll know we are (and will be) here for you and your vendors.
Paymode-X has protected over $1 trillion in AP payments over the last three years alone, without a single fraudulent payment.
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