Paymode-X gives you the flexibility to receive electronic remittance in your preferred format, plus an array of valuable features to make managing receivables and collaborating with customers easier through a payment network.

The Paymode-X network is a crucial resource for receiving electronic payments, learn all the ins and outs of the payment network for receiving payments.

  • Paymode-X Membership Benefits
  • Cash Application and Digital Remittance Details
  • Decrease DSO with Premium Invoice Capabilities
  • Network Advertising and Increasing New Business
  • Network Fee Billing Options

Improve cash management and customer relationships with one electronic payment solution.

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Paymode-X Premium membership benefits

  • Payment tracker
  • Access to audited payment detail 24x7
  • Payment notification via email 24 hours prior to receipt
  • Mitigation of risk of payment fraud, account takeover and email compromise
  • Ability to update account information online
  • Voice-enabled mobile app for easy access to payment information
  • Request payment status online
  • "My Payers" functionality to track and trend your largest customers
  • Searchable graphical and list views of payment data
  • Vendor Spotlight - Advertise with Paymode-X
  • Vendor Connect - enables Payers in the network to find your business
  • Rich remittance detail in a format of your choice (Excel, CSV, CTX, XML, BAI.v2, 835, email or custom AR file)
  • Ability to submit invoices electronically, track status and prioritize customer follow-up by invoice age or amount
  • Ability to easily share critical documents such as a W-8 and W-9 with your customers via the portal

How Paymode-X works

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CTX - apply cash faster with remittance your way

CTX, or Corporate Trade Exchange, is commonly referred to as an EDI 820 format and carries several benefits for AR departments.

By enabling CTX functionality on your Paymode-X membership, you are able to eliminate errors and reduce time associated with manual identification and posting of payments. Paymode-X can send this format to your bank account to assist in applying incoming payments for easy reconciliation. CTX files contain the information required to auto-post payments and offer detailed remittance data for each payment in the file.

Benefits of CTX

Enables easier payment reconciliation

Facilitates automatic payment positioning to an open invoice or account number

Enables auto loading of your company's bank file into your AR system

Improves cash forecasting

Eliminates trips to the bank for deposit drop-off

Mitigates risk of check fraud

Lessens the environmental impact of paper

Reduces processing costs

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WHY Paymode-X?

Apply cash faster with remittance your way.

Accounts receivalbe (AR) file

Paymode-X offers the ability to deliver customized AR files at the time of your choosing. AR files contain detailed payment and remittance information over a predefined time period. You choose the format of the file based on your AR system requirements and Paymode-X builds and delivers it electronically. Paymode-X offers Accounts Receivable format and delivery flexibility. Pipe delimited or comma delimited files are recommended for easy importing into Excel. Or, choose a format most easily imported into your ERP system.

Files can be delivered daily, monthly or yearly according to your preference.

Benefits of a Paymode-X Accounts Receivable (AR) File

Facilitates automatic payment posting straight through to an open invoice

Customizes the file format and delivery schedule

Works with any ERP

Mitigates risk associated with human error

Eliminates soft costs incurred due to manual reconciliation schedules

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Email remittance

For organizations that prefer a simpler remittance delivery option, detailed email remittance can be sent 24 hours prior to receipt of payment.

Collections strategy

Reduce days sales outstanding (DSO) with Premium Invoice Delivery

Premium Invoice Delivery capabilities within your Premium Paymode-X Membership will help you securely manage the delivery, storage and presentation of your invoices. Intelligent analytics give visibility into undelivered and un-actioned invoices that can negatively affect cash flow to help drive real-time decision making and follow-up.

A better, more secure collections strategy

A typical collections strategy revolves around a daily “aged debtor” report which highlights customer invoices that are outside of agreed payment terms. While useful, this approach allows invoices that should have been paid to age unnecessarily thus reducing the likelihood of being paid on time. With Premium Invoice Delivery your receivables department can drastically improve your collections strategy:

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Check that every invoice has been successfully delivered within a secure portal

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Identify incorrect email addresses to improve data quality and document delivery

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Quickly and effectively resolve document delivery issues without IT assistance

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Contact customers who have not actioned the document before the payment due date

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Monitor customer behavior to help identify trends and proactively follow up

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Focus on high-value invoices

How Paymode-X protects your organization

Here are some of the ways we maintain a secure electronic payment network for all members.

Account takeover prevention

Prevent account takeovers and unauthorized account changes

The network is protected by layered multi-factor authentication and device fingerprinting technology, ensuring accounts are protected if your credentials are compromised and keeping critical bank account changes away from fraudsters.

Secure Administration

Secure bank data

Secure critical bank data

We eliminate the risk associated with sharing your bank account information, as Paymode-X holds this information in a highly encrypted and secure network that adapts with frequently evolving standards to block security threats.

Secure

Secure payments

Secure payments against outside threats

By providing secure onboarding for your business with cutting-edge digital identity verification methods and manual expert reviews, Paymode-X thwarts business identity theft and fraud attempts by imposters on an ongoing basis.

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Check fraud risk reduction

Reduce the risk of check fraud

With high-level security features including warning bands, padlock icons, positive pay, control numbers, and invisible fibers, Paymode-X ensures the checks you're receiving from customers are legitimate.

Secure Payment Work Flows

Network fee billing options

To benefit from the features of a Premium Paymode-X membership, a nominal network use fee is assessed against each payment received. Paymode-X offers two options for the collection of network fees which are outlined below.


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Direct Debit

The full invoice amount due from your customer will reach your account within 2 business days. This option provides the easiest processing and reconciliation for your company.

One business day prior to the payment being received, you will receive an email notification with remittance detail for the payment.

The month following the payment, on your preset day of choice, Paymode-X will deduct the Network Fee from your specified direct debit bank account.

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Deduct from payment

The invoice amount due from your customer, less the Network Fee, will reach your account within 2 business days.

One business day prior to the payment being received, you will receive an email notification with the remittance detail for the payment.

Paymode-X deducts the Network Fee directly from the incoming payment as it occurs.

GET IN TOUCH

Want to learn more about Bottomline's Paymode-X?

Want to talk to an enrollment specialist?

Whether you need to make adjustments to your existing membership or are signing up for the first time, we are here to help.

+1 (800) 331 0974

Need Paymode-X technical support?

Our Member Services team is standing by to help Monday-Friday from 8-5pm.

Start getting paid electronically now.

Begin supporting your company's conversion to electronic payment. Sign up is easy and takes just a few minutes.

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