Explore the benefits

Why pay vendors through virtual card? What benefits do vendors receive when you pay them via ACH?

Understand how joining Paymode-X and making payments can be streamlined effectively and help you build better relationships with this informative, brief infographic highlighting the benefits and core functionality of each payment type we offer.

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Virtual Card

Virtual card payments are hyper-secure and provide rebates to payers, and are widely accepted by vendors who also gain access to improved remittance and Paymode-X AR tools through that acceptance.
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Payers

  • Secured against fraud and usable through your vendor’s existing card processing solution
  • Robust vendor authentication, eliminating need for you to hold vendor bank account information
  • Monthly rebate based on card spend volume, offsetting costs of other payment types
paymode secirity fraud & risk 168

Vendors

  • Reduce DSO and better manage working capital with efficient processing
  • Rich remittance detail in the format of your choice allows for easy, flexible cash application
  • Gain access to host of high-end AR tools, including enhanced reporting and automation

Premium ACH

Payers realize rebates, both parties enjoy the benefits of paying and being paid through the secure Paymode-X network, and vendors enhance remittance and access key tools.
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Payers

  • Protected against fraud with unique vendor ID number and secure storage of vendor bank account information
  • Robust vendor authentication, OFAC checks and account validation
  • Provides monthly rebate based on ACH spend volume, offsetting costs of other payment types
paymode secirity fraud & risk 168

Vendors

  • Reduce DSO and better manage working capital with efficient processing
  • Enhanced remittance detail in the format of your choice for easy, flexible cash application
  • Gain access to host of high-end AR tools, including enhanced reporting and automation

Basic ACH

Payers realize the benefits of paying securely through the Paymode-X network, while vendors eliminate the hassle of checks and access standard remittance and reporting options. No rebate opportunities are available for payers with this option.
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Payers

  • Securely and efficiently pay vendors for a small per transaction fee
  • Protected against fraud with unique vendor ID number, in addition to supplier OFAC checks and authentication
paymode secirity fraud & risk 168

Vendors

  • Helps eliminate the hassle associated with waiting for checks
  • Access to standard remittance and reporting options

International Payments

Gain access to a safe, effective and easy way for businesses to pay international vendors. The offering provides support for payees across 53 countries and 26 currencies.
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Payers

  • Securely and efficiently pay vendors any supported country and currency
  • Bring domestic and international payments into one integrated process
paymode secirity fraud & risk 168

Vendors

  • Can be paid securely in the currency and format of their choice

Directed Check

Automate the drawdown of funds from your financial institution by sending a single file and your bank will receive a positive pay file, while vendors receive familiar check payments. Access customized templates that allow you to add signatures, logos and more.

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Payers

  • Securely and efficiently pay vendors for a small per transaction fee
paymode secirity fraud & risk 168

Vendors

  • No change to familiar check payment processes

Managed Check

Automate the drawdown of funds Paymode-X’s financial institution by sending a single file and receiving remittance at your preferred cadence to your ERP, while vendors receive familiar check payments. Access customized templates that allow you to add signatures, logos and more.

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Payers

  • Securely and efficiently pay vendors for a small per transaction fee
  • Protected against fraud with vendor OFAC checks

 

paymode secirity fraud & risk 168

Vendors

  • No change to familiar check payment processes

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