Premium ACH
Make secure bank-to-bank transactions from your account to your vendors
Whether paying vendors or reimbursing students, Paymode-X automates manual AP processes, adds financial controls, and increases visibility. It even lets you earn money back from your payments.
It's the go-to solution for higher education institutions that need to find more dollars, more time, and better ways to process invoices and vendor payments with lower overhead.
With Paymode-X, digitize every step of invoice processing:
You’ll slash invoice processing time in half.
With payment automation, pay vendors via secure electronic payment types like ACH and virtual card. Both you and your suppliers can track every payment online through the Paymode-X portal.
Plus, if you need to issue student reimbursements, speaker fees or other one-off payments, you can do that too. Submit every payment together in one payment file.
Fraud puts your brand at risk and undermines the trust you've built. Paymode-X has you covered. We use more than 300 data points to validate vendors and make sure they are who they claim to be and are not on any blacklists. These validations occur before you’ll make a single payment over our network.
Plus, whenever a request is made to change bank account information, these validations—including IP location and type, device being used, and other digital identity variables—are repeated in full.
Paymode-X deploys a sophisticated net of detection strategies to prevent Business Email Compromise and identify imposter vendors.
Have a card program with your bank? You can keep it in place and add on Paymode-X payments automation.
Paymode-X has more than 550,000 vendors already enrolled and vetted for electronic payments. You’ll be able to tap into this network on day one and issue payments more easily.
Give vendors multiple payment options that arrive quicker than paper checks. These include ACH offerings and virtual card.
When vendors opt-in to digital payments, they get access to a vendor-facing portal to track their payments, submit invoices and receive reports.
While Paymode-X has one of the largest B2B payment networks, we’re continuously reaching out to vendors who may not already receive electronic payments.
In fact, we onboard around 3,000 new vendors each month and have a 97% retention rate.
Just send your payments file to Paymode-X, and we'll do the rest. Pay your vendors using Premium ACH and virtual card, two highly secure payment methods that generate money back. You can track everything online in the Paymode-X portal, including rebates earned.
Our solution experts are here to help.
+1 (844) 729-6633Chat with one of our solution experts. We'll recommend the right product to fit your needs.
Tell us a bit about you and your business and we’ll get back to you with all the information you need.
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