Make secure bank-to-bank transactions to your vendors
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.
Because the Paymode-X network is more than 550,000 businesses strong, it’s likely that at least half of your vendors are already getting paid through Paymode-X already. So, it will take no time for them to add you as a payer, as soon as you are ready to launch.
Plus, we'll enroll any vendors not already using Paymode-X.
Paymode-X fully vets and authenticates every vendor on its network, using more than 300 data points. Plus, we deploy a sophisticated net of fraud detection strategies to identify any imposters claiming to be vendors.
We know these mitigation efforts work because they have successfully blocked BEC attempts over the years. In fact, Paymode-X processes $400B in payments a year with 0 fraud.
Log in to gain full visibility into every payment you make and every supplier you pay, all in an easy to use portal.
You can also use Paymode-X while on the go via the mobile app, streamlining payment approvals.
View every payment and their status in the Paymode-X portal. Plus, you'll see:
Using the Paymode-X portal and/or mobile app, your vendors can get all the reports and data they need. There will be no need to contact you. They can:
Track which of your payees offer discounts for early payments right within the Paymode-X portal.
Issue payments to these vendors as quickly as needed and take advantage of the opportunity to further offset costs.
Need to reimburse employees and pay vendors? You can combine both payment types in the same payment file and pay through Paymode-X.
Note: only B2B payments are eligible for rebates
Paymode-X can integrate with any GL. Payments data is automatically transmitted back and forth, so you'll be up-to-date on every transaction.
Adding Paymode-X to our internal business payment mix allows us to offer multiple payment options to meet our diverse needs of our Vendors. In doing so, we also gained efficiencies within our API processes and added a new revenue stream for Citizens. Craig McCarthy | Citizens Bank
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