Provide clients with access to a secure, cloud-based payment network to help them quickly automate payments and transform their AP departments into profit centers.
Many banks are racing to keep up with the investments needed to be competitive in corporate cash management. Delivering new capabilities that resonate with Finance and Treasury executives is critical to gain market share. These executives are under constant pressure to streamline their accounts payable process, increase controls, and reduce costs. Often, legacy ERP systems, paper-intensive processes, and manual workarounds aren’t up to the challenge. They need innovative payment solutions to meet their needs for automation. Forward-thinking finance departments increasingly seek out innovative technologies such as payment networks to help them achieve their goals, finding alternatives to paper payments that drive revenue.
Through the Paymode-X payment network, banks can deliver meaningful efficiencies for their corporate customers and generate new sources of revenue at the same time. With Paymode-X, organizations of all sizes can electronically transact with one another to streamline making and receiving payments.
Payers use Paymode-X to make electronic payments, mitigate fraud risk, reduce paper and labor-intensive processes, and turn AP from a cost center into a profit center through Dividends on purchase volumes. Vendors enjoy an easy-to-use system that empowers them to streamline receivables and cash application. With Paymode-X, they can gain visibility to upcoming payments and receive detailed electronic remittance in a format of their choice.
Banks benefit from the existing partnerships between Paymode-X and both Visa and Mastercard to provide customers with a full, integrated payables solution. Paymode-X is able to provide complete payables outsourcing for all payment types with integrated supplier onboarding and campaign management, providing the highest adoption and revenue.
Deepen customer loyalty, grow revenue, and expand market share with Paymode-X.
Benefits for Payers:
Benefits for Vendors:
Paymode-X is a cloud-based payment network that delivers prompt, secure electronic payment information to more than 385,000 participating organizations, processing over $200 billion annually. Organizations often find that more than 40% of their targeted trading partners are already enrolled, which accelerates their move to automated payments. The Paymode-X Intelligent Engagement Model® further segments, enrolls and authenticates Vendors to migrate even more payments to electronic. Integrated Vendor onboarding and campaign management across all payment types facilitates the highest adoption and revenue.
An innovative and agnostic business payment solution, integrating with any ERP system(s) and leveraging existing bank relationships, Paymode-X creates a powerful network between Payers and Vendors – today and as business needs grow and change.
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