Business Payments Network

Paymode is a business-to-business (B2B) payments network. Acquired by Bottomline in 2009 from Bank of America, today Paymode processes over $450 billion in B2B payments annually for over 600,000 businesses with no successful fraud attempts. 

Simply put, Paymode is used by businesses who want to make and receive secure, electronic payments.  

While we offer the same methods—ACH and virtual card among them—as traditional payment programs, Paymode’s advantage comes in added offerings. By automating payment processes in contrast to traditional in-house programs, offering rebates on both card and Premium ACH payments, and ensuring every payment is made through a closed, fraud-resistant network, Paymode streamlines, speeds, and secures payments in a way legacy programs can’t.  

Simply put, we offer substantial benefits that in-house programs and other providers do not. These include: 

• Higher rebate potential owing to our Premium ACH offering 

• Better security from an authenticated, closely monitored network protected by multiple layers of security 

• Vendor enrollment, validation and management done for you, to save you time and frustration 

• Dedicated support teams for every payer and vendor using the network to help with business growth, questions, and concerns 

Great question. By making payments through the network, you can save your AP team time and energy while reducing the risk of fraud. You can also expect rebates to help offset business expenses, and further reduced time spent working with vendors to enable your team to focus on big-picture priorities. 

There are fees associated with using Paymode. From the payer perspective, there is a nominal per transaction fee assessed to payers when making payments to non-Premium vendors. Those vendors who use our accounts receivable tools to cut reconciliation time and gain greater AR efficiency pay a small per transaction fee on every Premium ACH payment they receive, a fee that does not exceed 1.5%. Vendors receiving virtual card payments pay the standard interchange fees associated with cards, with no added Paymode fees added on. 

Once you’ve signed on to be a payer in our network, we’ll work with you to set up your own Paymode account(s), depending on your team needs.  

For vendors, there’s an online enrollment process that’s quick, easy, and secure to join the network and set up an account.  

Today, over 600,000 make payments and receive them via the network. Since Bottomline acquired the network from Bank of America in 2009, the number of businesses making use of our secure ACH and virtual card payments has grown by over 600%, and we pride ourselves on keeping the network fraud-free even as the network grows. 

While there will be variations, generally we will analyze your vendor spend file and identify vendors who would be fits for Premium ACH and virtual card. On average, over 50% of your suppliers will already be receiving payments from other businesses throughout the network. We will then actively campaign to those vendors via letters of intent on your behalf, calls, and emails, and when they’re ready to enroll, have them do so securely through our online process.  

As a last step, Bottomline authenticates the vendor using more than 300 data points, machine learning, and our in-house experts to ensure they are who they say they are. Once that’s complete, you’ll begin making payments without ever having needed to actively reach out to your vendor community.  

It’s only natural to ask whether a network that processes your payments is secure and legitimate, and thankfully the answer is yes. Bottomline bought the Paymode network from Bank of America in 2009, meaning it was already an established way for businesses to exchange ACH payments, and the network has only expanded and added layers of security since then. That’s over 15 years of B2B payments experience for hundreds of thousands of businesses.